Togo Inc. has the following shares outstanding 80,000, $1.00, no par value preferred shares 100,000 no par value common shares $800,000 $1,000,000 All shares were sold for $100 each. It is now December 31, 2020, and the board of directors wants to distribute $484 000 in dividends. Dividends were not paid on preferred in the proceeding two years Instructions Calculate how much the preferred and common shareholders will receive under each of the following assumptions: a) The preferred is cumulative and fully participating b) The preferred is cumulative and participating to 16% total For the toolbar, press. ALT+