Suppose a corporation has the following shares outstanding:

1. $800,000 in 6% Preferred Stock ($100 par value)

2. $3,200,000 in Common Stock ($10 par value)

No dividends were declared for the years 2020 and 2021.

Two scenarios are presented below and each is independent of each other.

Scenario 1: As of December 31, 2022, a dividend of $250,000 is declared. Indicate the amount that the preferred shareholders will receive if the share is cumulative and non-participating (cumulative and non-participating).

Scenario 2: As of December 31, 2022, a dividend of $800,000 is declared. Indicate the amount that the preferred shareholders will receive if the share is cumulative and non-participating up to 11% in total (cumulative and non-participating).

Bank A lent $50,000,000 to ABC. ABC is delinquent on the loan payment. The bank agreed to accept a piece of land with a market value of $40,000,000 in payment of the debt. This property had a UMC book value of $20,000,000. How much is the debt restructuring gain?

On 12/31/21 ABC had a note payable with a book value of $150,000. On that same date, the bank agreed to change the terms of the loan: reduce the principal to $80,000, extend the maturity date from 12/31/21 to 12/31/24, and reduce the contractual interest rate from 12% to 9%. %. How much is the debt restructuring gain?