1. Freidrichs Company has issued and outstanding 11,000 shares of cumulative, 8%, 50 par value preference shares which it sold for 54 per share at the beginning of 2018. The company has never paid preference dividends. As of December 31, 2019, dividends in arrears are (3 Points) 88,000 132,000 162,000 142,560 3. Stine Corp.'s trial balance reflected the following account balances at December 31, 2019: Accounts receivable (net) $28,000 Trading securities 6,000 Accumulated depreciation-equipment 15,000 Cash 21,000 Inventory 30,000 Equipment 25,000 Patent 4,000 Prepaid expenses 2,000 Land held for future business site 18,000 In Stine's December 31, 2019 statement of financial position, the current assets total is (5 Points)