Selected T-accounts for Jade Mineral Corporation at December 31, 2020, are duplicated below. Preferred Shares, 56 cumulative 10,000 shares authorized 8,600 shares issued 211, 560 211,560 Dec. 31/19 Bal. Dec. 31/20 Bal Common Shares, 50,000 shares authorized 45,000 shares issued 567,000 567. eee Dec. 31/19 Bal. Dec. 31/20 Bal Retained Earnings 132,eee Dec. 31/19 B1. Dec. 31/20 Bal. Note: Dividends were not paid during 2018 or 2019. Dividends of $5.40 per common share were declared and paid for the year ended December 31, 2020. . 2018 was the first year of operations All shares were issued in the first year of operations Required: Using the information provided, answer the following questions. 1. What is the total amount of dividends that the preferred shareholders are entitled to receive per year? Dividends for preferred shareholders 2. Are there any dividends in arrears at December 31, 2019? If yes, calculate the dividends in arrears. Asigner & BD 2. Are there any dividends in arrears at December 31, 20197 If yes, calculate the dividends in arrears 3 3. Calculate total dividends paid during 2020 to the a. Preferred shareholders b. Common shareholders 4. During 2020, the company earned profit of $414000 Calculate the balance in the Retained Earnings account at the end of 2020 5. Calculate Total Contributed Capital at the end of 2020