Security Inc. included the following shareholders' equity on its balance sheet at December 31,2020:

Partial balance sheet Requirement 1. Identify the different issues of shares Reliable Security has outstanding. (Select all that apply.) A. $6.00 Non-cumulative Preferred Shares B. $2.50 Non-cumulative Preferred Shares C. $2.50 Cumulative Preferred Shares D. $6.00 Cumulative Preferred Shares E. Common Shares F. Cumulative Common Shares Requirement 2. What was the value at which the $2.50 Cumulative Preferred Shares were issued? Reliable Security issued the $2.50 Cumulative Preferred Shares at $ per share. Requirement 3. Suppose Reliable passed its preferred dividends for one year. Would the company have to pay these dividends in arrears before paying dividends to the common shareholders? Why? Reliable have to pay preferred dividends in arrears before paying dividends to the common 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 preferred dividends in arrears. Requirement 5. Assume preferred dividends are in arrears for 2019. Journalize the declaration of a $60,000 cash dividend for 2020 . No explanation is needed. (Record debits first, then credits Explanations are not required.)