You are making an audit of the shareholder's equity accounts of Clarence Corporation for the year ended December 31, 2017 The statement of financial position at December 31, 2016 showed the following SHE balances : During the year ended December 31, 2017, the company was active in transactions affecting the SHE. The following summarized these transactions Date 14-Feb 28-Mar 31- Type of Transaction Issue of preference share Issue of ordinary share Number of shares Price /per share 10,000 35,000 225 70 Retirement of preference share (from shares outstanding as of January 1) May Purchase of Treasury shares ordinary (at 2,000 30 31-Jul cost) 5,000 12-Nov Sale of treasury shares 3,000 15-Nov Sale of treasury shares 1,000 8887 80 82 77 30-Nov Declaration of dividends 2 to preference at 31-Dec the annual rate; to ordinary, P5 per share Increase in fair value of equity investments at fair value through other comprehensive 31-Dec income, P34,000 (acquired during the year) Profit for the year, P500,000 Balances of the accounts in the SHE section of the December 31, 2016, statement of financial position were: Preference Share Capital, 50,000 shares, P20 par - P1,000,000 Ordinary Share Capital, P50 par, 100,000 shares - P5,000,000 Share Premium Share Premium Preference Ordinary - 400,000 1,200,000 Retained earnings - 850,000 1. Get the adjusted balances of the following: a. Preference share capital b. Ordinary share capital C. Additional paid in capital d. Retained earnings e. Treasury shares f. Cumulative other comprehensive income 2. How much is the dividends relating to preference share capital? 3. How much is the dividends relating to ordinary share capital?