Use the following information to answer the giv... - WAEC Accounting 2006 Question

Use the following information to answer the given question
(\begin{array}{c|c} & ₦ \ \hline \text{ordinary shares of ₦1 each} & 500,000\ \text{8% preference shares of ₦1 each} & 200,000\ \text{Interim dividends paid} & \ \text{- ordinary shares} & 40,000\ \text{-preference shares} & 12,000\ \text{profit for the year} & 100,000\end{array})
If no profit is to be retained, proposed preference shares dividend is