Question 1 (1 point) Dividends in arrears relate to: Callable preferred shares Convertible preferred shares Preferred shares with a cumulative dividend feature No par preferred shares Question 2 (1 point) Which of the following is NOT generally a right or preference associated with preferred shares? The right to vote First claim to dividends Preference to corporate assets in case of liquidation To receive dividends in arrears before common shareholders receive dividends Question 3 (1 point) Ursula Company declared dividends of $20,000 in fiscal 2021 and paid the $42,000 dividends that were declared in fiscal 2020. Ursula paid the 2021 dividends in early fiscal 2022. How much dividends should the company report in the statement of retained earnings in 2021? $62,000 $42,000 $20,000 $0 Question 4 (1 point) In order to pay a dividend the company must: Have enough cash on hand to pay for its ongoing operations as they come due Ensure their legal capital is maintained Have a declaration of dividends by the board of directors Have all of the above