Sakura Corporation (Sakura) has outstanding share capital consisting of 30,000 preferred shares and 70,000 common shares. The preferred shares carry a dividend of $8 per share and have a $100 stated value. The common shares have a book value of $2,800,000. Sakura has retained earnings of $1,000,000 that is to be paid out in dividends. The preferred shares have not received a dividend in the two years preceding the current year. Instructions: a) Calculate the dividend to be paid to preferred and common shareholders, assuming the preferred shares are non-cumulative and non-participating. b) Calculate the dividend to be paid to preferred and common shareholders, assuming the preferred shares are cumulative and non-participating. c) Calculate the dividend to be paid to preferred and common shareholders, assuming the preferred shares are cumulative and participating. Do not round intermediate amounts but round answers to the nearest dollar. Show ALL calculations for full marks