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What the total amount of dividends to be paid by sharo corp

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Problem 1: Sharo Corp. has 5,000 shares of 6% cumulative, P100 par value, preference shares outstanding and 175,000 ordinary shares outstanding. It has paid no dividends since May 31, 2012. For the year ended May 31, 2014, Sharo Corp. had profit of P1,450,000 and wishes to pay ordinary shareholders a dividend to 25% of profit. The total amount of dividends to be paid by Sharo Corp. on May 31, 2014 is:

a. P362,500 b. P392,500 c. P407,500 d. P422,500

Reference no: EM132718765

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