On December 31, 2020, Waterway, Inc. has 4300 shares of 6% $100 par value cumulative preferred stock and 61400 shares of $10 par value common stock outstanding. On December 31, 2020, the directors declare a $20900 cash dividend. The entry to record the declaration of the dividend would include: a credit of $20900 to Dividends Payable. O a credit of $20900 to Cash Dividends. O a debit of $20900 to Common Stock. O a note in the financial statements that dividends of $4 per share are in arrears on preferred stock for 2020. Click if you would like to Show Work for this question: Open Show Work