SET A Plover Corporation had the following equity accounts on January 1, 2020: Share CapitalOrdinary (1 par) 400,000, Share PremiumOrdinary 500,000, and Retained Earnings 100,000. In 2020, the company had the following treasury share transactions. Mar. 1 Purchased 5,000 shares at 7 per share. June 1 Sold 800 shares at 10 per share. Sept. 1 Sold 1,700 shares at 9 per share. Dec. 1 Sold 1,000 shares at 5 per share. Plover Corporation uses the cost method of accounting for treasury shares. In 2020, the company reported net income of 80,000. SET B Mihoyo, Inc., has $800,000 of 8% preference shares and $1,200,000 of ordinary shares outstanding, each having a par value of $10 per share. No dividends have been paid or declared during 2018 and 2019. As of December 31, 2020, it is desired to distribute $488,000 in dividends. Instructions: How much will the preferred and common stockholders receive under each of the following assumptions: (a) The preference share is noncumulative (b) The preference share is cumulative