Question 4 Vaughn SE has 3,900 8%, 110 par value preference shares outstanding at December 31, 2017. At December 31, 2017, the company declared a 123,000 cash dividend. Determine the dividend paid to preference shareholders and ordinary shareholders under each of the following scenarios: 1. The preference shares are non-cumulative, and the company has not missed any dividends in previous years. The dividend paid to preference shareholders e The dividend paid to ordinary shareholders 2. The preference shares are non-cumulative, and the company did not pay a dividend in each of the two previous years. The dividend paid to preference shareholders The dividend paid to ordinary shareholders 3. The preference shares are cumulative, and the company did not pay a dividend in each of the two previous years. The dividend paid to preference shareholders The dividend paid to ordinary shareholder