What total amount would the ordinary shareholders receive

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Question - ABC Co. has 100,000, P50 par, 10% preference shares and 500,000, P40 par ordinary shares outstanding. Dividends are in arrears for two years. If ABC Co. declares P3,500,000 cash dividend, What total amount would the ordinary shareholders receive if the preference shares are cumulative and participating?

Reference no: EM133100981

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