At December 31, 2012, Otis Thorpe Corporation has 10,000 shares of exist100 par value 6% preference shares issued 50,000 shares of exist10 par value ordinary shares issued a. If you know that the preference shares are and that dividends were last paid on the preference shares on December 31, 2009, as No Dividends were declared in 2010, 2011 and 2012: Calculate the amount of dividends that should be reported as Dividends payable on the December 31, 2012, Statement of financial position (Balance sheet)? b. If the preference shares are convertible into 7 shares of exist10 par value ordinary shares and 3000 shares are converted, Whet entry is required for the conversion assuming the preference shares were issued at par for the conversion assuming the preference shares were issued at par value? c. If the preference shares were issued at exist107 per share, How should the preference shares be reported in the Equity section in the Balance Sheet