Headlands Ltd. issues 8,600, $4 cumulative preferred shares at $66 each and 15,000 common shares at $30 each at the beginning of 2019. Each preferred share is convertible into two common shares. The appropriate preferred share dividend was declared and paid in 2019. During the years 2020 and 2021, the following transactions affected Headlands's shareholders' equity accounts: 2020 Jan. 10 Paid $12,000 of annual dividends to preferred shareholders. 2021 Jan. 10 Paid annual dividend to preferred shareholders and a $3,000 dividend to common shareholders. Mar. 1 The preferred shares were converted into common shares. Journalize each of the transactions. (Credit account titles are automatically indented when the 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.) Date Account Titles and Explanation 2020 Jan. 10 Cash Dividends - Preferred Cash (To record preferred share dividend.) Debit 12,000 Credit 12,000 Date Account Titles and Explanation Debit 2021 Cash Dividends - Preferred Jan. 10 Cash Dividends - Common Cash (To record common and preferred share dividends.) Mar. 1 Preferred Shares Common Shares (To record conversion of shares.) 56800 3,000 567,600 Credit 59800 567,600 Are there any additional reporting requirements regarding preferred share dividends in either 2020 or 2021? The company needs to disclose dividends in arrears of $ eTextbook and Media List of Accounts in the notes to the 2020 financial stater