Y Limited is a public limited company. Y Limited's financial year ends on 31 December each year. On 1 January 2023, the company had: 800000 ordinary shares of $1 each, issued and fully paid. 300000 5% redeemable preference shares of $0.50 each. Retained earnings of $62000. General reserves of $78000. Y Limited provided the following information: Proposed final ordinary share dividend of $43000 for the year ended 31 December 2022 was paid on 31 March 2023. Interim ordinary share dividend of $40000 was paid on 30 September 2023. Profit for the year ended 31 December 2023 was $126000 (before the payment of preference share dividend). On 31 December 2023: The company decided to transfer $32000 to its general reserve. Agreed a final ordinary share dividend for the year of 6%. The company is considering expansion but needs to raise additional finance to do so. They are considering either issuing additional ordinary shares or debentures.