Question 5 Blue Spruce Limited's ledger shows the following balances on December 31, 2020: Preferred shares outstanding: 21,000 shares $ 504,000 Common shares outstanding: 33,000 shares 2,310,000 Retained earnings 1,031,310 (a) (b) (C) Your answer is partially correct. Try again. Assuming that the directors decide to declare total dividends in the amount of $515,655, determine how much each class of shares should receive if the preferred shares are non-cumulative and are participating in distributions in excess of a 10% dividend rate on the common shares. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.44 per share. (Round intermediate percentage calculations to 4 decimal places, e.g. 12.2525% and final answers to 0 decimal places, e.g. 5,275.) Preferred Common Total Dividend 141088.5 374566.5 515655 Question 5 Blue Spruce Limited's ledger shows the following balances on December 31, 2020: Preferred shares outstanding: 21,000 shares $ 504,000 Common shares outstanding: 33,000 shares 2,310,000 Retained earnings 1,031,310 (a) (b) (C) Your answer is partially correct. Try again. Assuming that the directors decide to declare total dividends in the amount of $515,655, determine how much each class of shares should receive if the preferred shares are non-cumulative and are participating in distributions in excess of a 10% dividend rate on the common shares. Note that one year's dividends are in arrears on the preferred shares, which pay a dividend of $1.44 per share. (Round intermediate percentage calculations to 4 decimal places, e.g. 12.2525% and final answers to 0 decimal places, e.g. 5,275.) Preferred Common Total Dividend 141088.5 374566.5 515655