Ironclad Security Inc. included the following shareholders' equity on its balance sheet at December 31, 2020: (Click the icon to view the partial balance sheet.) Requirements 1. Identify the different issues of shares Ironclad Security has outstanding. 2. What was the value at which the $1.50 Cumulative Preferred Shares were issued? 3. Suppose Ironclad decided not to pay its preferred dividends for one year. Would the company have to pay these dividends in arrears before paying dividends to the common shareholders? Why? What amount of preferred dividends must Ironclad declare and pay each year to avoid having preferred dividends in arrears? 4. 5. Assume preferred dividends are in arrears for 2019. Journalize the declaration of a $50,000 cash dividend for 2020. No explanation is needed. Requirement 1. Identify the different issues of shares Ironclad Security has outstanding. (Select all that apply.) A. Common Shares B. $1.50 Cumulative Preferred Shares C. $1.50 Non-cumulative Preferred Shares D. Cumulative Common Shares E. $6.00 Cumulative Preferred Shares F. $6.00 Non-cumulative Preferred Shares