Current Attempt in Progress Concord Corporation has 9,100 shares of $100 par value, 8%, preference shares and 54,100 ordinary shares of $10 par value outstanding at December 31, 2022. Answer the questions in each of the following independent situations. (a) If the preference shares are cumulative and dividends were last paid on the preference shares on December 31, 2019, what are the dividends in arrears that should be reported on the December 31, 2022, balance sheet? The amount of dividends in arrears on the December 31, 2022 $ How should these dividends be reported? The cumulative dividend is V as a liability. (b) If the preference shares are convertible into 7 shares of $10 par value ordinary shares and 3,300 shares are converted, what entry is required for the conversion, assuming the preference shares were issued at par value? (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)