Zebra Company reported the following outstanding share capital at year-end: 30,000 shares of 10% cumulative preference share, par value P100 per share, fully participating as to dividends. No dividends were in arrears in prior years. 200,000 ordinary shares with par value of P10. The entity declared dividends of P1,000,000 at year-end. What was the amount of dividends payable to ordinary shareholders? a. 200,000 b. 700,000 C. 400,000 L. 600,000