Required

Answer the questions in each of the following INDEPENDENT situations:

A$.$ If the preference shares are cumulative and dividends were last paid on the preference shares on December $31,2013$ as No Dividends were declared in $2014,2015,2016,2017$ and $2018.$

Calculate the amount of dividends payable that should be reported in the Liabilities section on the December $31,2018,$ Statement of financial position $($Balance Sheet$)?$

B$.$ If every preference share is convertible into $7$ shares of $$10$ par value ordinary shares and $3000$ preference shares are converted, what entry is required for the conversion assuming the preference shares were issued at par value?

C$.$If the preference shares were issued at $$107$ per share, how should the preference shares be reported in the Equity section in the Statement of Financial Position?