The capital accounts of Coco Inc. as of March 31, 2019, show the following balances:

5% Preference Share Capital, 5,000 shares outstanding, P 20 par P 100,000

Ordinary Share Capital, 30,000 shares outstanding, P 10 par 300,000

Retained Earnings 465,000

Dividends were last declared in March 2016, the company declared cash dividends of P 60,000 on March 31, 2019. How much is the dividend per share of preference and ordinary, assuming preference share is cumulative and fully participating?

Group of answer choices

a. P 20.00 for preference share and P 10.00 for ordinary share

b. P 3.00 for preference share and P 1.50 for ordinary share

c. P 4.50 for preference share and P 1.25 for ordinary share

d. P 5.00 for preference share and P 1.17 for ordinary shareC. P 5.00 for preference share and P 1.17 for ordinary share