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ironclad security inc. included the following shareholders equity on its balance sheet at december 31,2020

sartial palance sheet Requirement 1. Identify the different issues of shares Ironclad Security has outstanding. (Select all that apply.) A. S4.00 Non-cumulative Preforred Shares B. Cumulative Common Shares C. Common Shares D. $2.00 Cumulative Preferred Shares E. $2.00 Non-cumulative Preforred Shares F. $4.00 Cumulative Preferred Shares Requirement 2. What was the value at which the $4.00 Cumulative Preferred S hares itore issued? Ironclad Security issued the $4.00 Cumulative Preferred Shares at 4 per share. Pequirement 3. Suppose Ironclad passed its preferred dividends for one year. Would the company have to pay these dividends in arfears before paying didenda fo the common ahareholders? Why? Why? Ironelad hawe to pay proterred dividends in arrears before paying dividends to the common shareholders because the preforred ahares are Requirement 4. What amount of preferred dividends must Ironciad declare and pay each year to avoid having prefered dividends in arrears? leonclad must declare and pay prefecred dividends of $ each year to avoid having prefered dividends in amears Requirement 5. Assume preforred dividends are in arrears for 2019. Joumaize the declaration of a $110,000 cash dividend for 2020 . No explaration is needed. (RRecord debits fint, then eredith. Explanations are not required.) \begin{tabular}{|l||c|c|c|} \hline Date & Accounts & Debit & Credit \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}

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