liable Securty lne, included the following shareholders' equity on its balance sheet at December 31, 2020: (Cliek the icon to view the partial balance sheet.) equirements Identify the different issues of shares Reliable Security has outstanding. What was the value at which the $2.50 Cumulative Preferred Shares were issued? Suppose Reliable decided not to pay its preferred dividends for one yoar. Would the company have to pay these dividends in ambars belore poying dividends to the comman sharehelden Why? 4. What amount of prelerred dividends must Relable declare and poy each year to avoid having preserred dividends in arrears? 5. Assume preserred dividends are in arrears for 2019 . Journalize the doclaraton of a 560,000 cash dividend for 2020. No explanation is needed. Requirement 1. IGentify the different inwes of shares Relable Security has outstanding. (Setect all that apply.) A. $6.00 Non-cumulative Preferred Shares 8. 12.50 Nan-cumulatve Preferred Shares c. \$2.50 Curwilative Preferred shares D. \$6. 00 Curnulative Pretened Shares 1. Common shares 1. Curmalative Common Shares Expert Q\&A Reliable have to pay preferred dividends in arrears before paying dividends so the comrron shareholders because the preferred shares are Requirement 4. What amount of preferred dividends must Reliable declare and pay each year to avoid having preferred dividends in arrears? Reliable must declare and pay preferred dividends of ? each year to avoid having prelerred dividends in arrears. Requirement 5. Assume preferred dividends are in arrears for 2019 . Journalze the declarabion of a 560,000 cash dividend for 2020 . No explanation is needed. (Recerd debits first, then credita Explanations are not required.)