I need help with part c Wildhorse, Inc. has $500,000, $0.85, no par value preferred shares (50,000 shares) and $1,000,000 of no par valuecommon shares outstanding (80,000 shares). No dividends were paid or declared during 2021 and 2022. The companywants to distribute $531,250 in dividends on December 31, 2023.(a)Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assumingthe preferred shares are non-cumulative and non-participating.(b)Your answer is correct.(c)Total dividendseTextbook and Media$Your answer is correct.Total dividendseTextbook and MediaYour answer is incorrect.Total dividendsPreferredCalculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assumingthe preferred shares are cumulative and non-participating.$Preferred42500Preferred$127500$Common$Common488750Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assumingthe preferred shares are cumulative and fully participating. (Round intermediate percentage calculationsto 3 decimal places, e.g. 15.251% and final answers to 0 decimal places, e.g. 1,225.)CommonAttempts: 2 of 3 used403750Attempts: 2 of 3 used

Wildhorse, Inc. has $500,000, $0.85, no par value preferred shares (50,000 shares) and $1,000,000 of no par value common shares outstanding (80,000 shares). No dividends were paid or declared during 2021 and 2022. The company wants to distribute $531,250 in dividends on December 31, 2023. (a) Your answer is correct. Calculate the amount of dividends to be paid to each group of shareholders (i.e., preferred and common), assuming the preferred shares are non-cumulative and non-participating. Preferred Common