You are provided with the records of Blue Corporation for the year 2020, before any cash dividend declaration: 10% Preference Share Capital, 120 par = 3,840,000 Subscribed Preference Share Capital = 420,000 Subscriptions Receivable-Preference = 250,000 Ordinary Share Capital, 70 par = 3,220,000 Subscribed Ordinary Share Capital = 735,000 Subscriptions Receivable-Ordinary = 320,500 Accumulated Profits-Free = 6,285,450 Treasury Shares-Ordinary (at cost: 75) = 375,000

The preference shares are non-cumulative and participating. Dividends are in arrears for the past three years. During the dividend distribution, the ordinary shares received 79,616.50 as their share in the balance for participation. How much is total dividends received by ordinary shares? Round off you answer to two decimal places.

Answer is 440,116.5 but please show solutions in good form.