Affleck Company has the following types of outstanding shares at December 31, 2020: ·         Ordinary Share Capital, P20 par: P8,000,000 ·         12% Preference Share Capital, P100 par, cumulative and fully participating: 4,000,000 ·         10% Preference Share Capital, P100 par, cumulative and non-participating: 2,000,000 Dividends on preference shares have been in arrears for 2018 and 2019. On December 31, 2020, cash dividends declared totaled P6,000,000. What is the amount of dividend payable to ordinary shareholders?     a. P2,640,000 b. P3,960,000 c. P2,960,000 d. P2,906,667

winter provided the following shareholders’ equity on December 31, 2021: Preference share capital, 10% P50 par (noncumulative and nonparticipating) 1,000,000 Preference share capital, 8% P50 par (cumulative and nonparticipating) 1,500,000 Ordinary share capital, P100                                                              2,500,000 Share premium                                                                                     500,000 Retained earnings                                                                                600,000   Dividends have been paid on the preference share up to December 31, 2018.   Book value per 8% preference share

At 31 December 2019, B Plc had post-tax profits was $2,500,000 and had an issued share capital of $2,000,000 comprising 2,000,000 ordinary shares of 50p each and 1,000,000 $1 10% preference shares that are classified as equity. Assume that the post-tax profits for 2018 and 2019 were same at $ 2,500,000. The time-weighted number of shares was as follows: No. of Shares Shares (nominal value 50p) in issue at 01 January 2019 2,000,000 Shares issued for cash at market price on 30 September 2019 1,000,000 On 30 September 2019, B plc made a right issue of one share for every two shares (i.e one new share for every two shares held) at $3.25 per share. The following information is also given for B Plc as at 31 December 2019: Share option in existence 1,000,000 shares issuable in 2020 at $3.25 per share. An average market price per share of $4%; 1. Convertible 8% preference shares of $1 each totaling $2,000,000 convertible at one ordinary share for every five convertible preference shares. 2.…