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Required information As of January 1, 2019, a company's shareholders' equity included the following: Common stock: $1 par, 500,000 shares outstanding Preferred stock: $50 par, 4%, 25,000 shares outstanding The board of directors declared and paid total cash dividends of $60,000, $36.000, and $108,000 in years 2019 2020, and 2021, respectively The preferred stock is cumulative and nonparticipating, and was issued on January 1, 2019. All common and preferred shares were outstanding during the entire three-year period (2019-2021). Use the information above to answer the questions below Calculate the amount of dividends in arrears to preferred shareholders as of the end of 2020 (Click to select)