In addition to its common stock, Royale, Inc. sold cumulative preferred stock to shareholders at the corporation's inception (i.e., at the first of Year 1). The dividend due to the preferred shareholders each year is $50,000. Royale did not pay any dividends to its shareholders in Year 1 or Year 2. In Year 3, a total dividend of $90,000 is declared and paid by Royale. The total dividend to be paid to preferred shareholders in Year 4 is $50,000 590.000 $110.000 $150.000 When a corporation is in default and is forced into bankruptcy, bondholder claims on corporate assets for satisfaction of amounts due them are ranked ahead of common stockholders but after preferred stockholders' claims are satisfied. ahead of preferred stockholder claims but after common stockholders' claims are satisfied. ahead of both common stockholders' claims and preferred stockholders' claims. afte both common stockhoders Slims and preferred stockholdest claims are satisfied Three different classifications of investments are possible on a company's balance sheet: (1) trading securities, (2) available for sale securities, and (3) held-to-maturity securities. Absent any special recognition agreement by the company, which of these investments should be reported at fair value at period end? Held to maturity securities and available for sale securities Trading securities only, Trading securities and available for sale securities All three classifications are to be reported at fair value