kysong Incorporated had issued common shares and 79,800, $3.50 preferred shares issued. Skysong did not pay a dividend to the preferred shareholders in 2023 and 2024. Your answer has been saved. See score details after the due date. Determine the dividends in arrears, if any, at December 31, 2024 if (Do not leave any answer field blank. Enter O for amounts.) a) The preferred shares were noncumulative, and $ b) The preferred shares were cumulative. $ 558600 Your answer has been saved. See score details after the due date. Assuming the preferred shares were cumulative and Skysong declared payment of all dividends in arrears on December 31, 2024, prepare the necessary journal entry. (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. List debit entry before credit entry.)