Rensing. Inc.. has 20.000 shares of 8%. $30 par value preference shares and 120,000 of ordinary shares outstanding, having a par value of $10 per share. No dividends have been paid or declared during 2017 and 2018. As of December 31, 2019, it is desired to distribute $460,000 in dividends. Instructions a) How much will the preference and ordinary shareholders receive if the company declared and paid $460,000 in cash dividends if the preference is cumulative and participating in excess of 12%. b) How much will the preference and ordinary shareholders receive if the company declared and paid $294,000 in dividends and the preference is cumulative and participating up to 12% total.