Sheridan Corporation began operations in $2022$ with the following capital structure:

Common shares, Class A: $8,000,000$ authorized and outstanding. The Class A common shares are entitled to $10$ votes per share and to receive dividends as declared by the board of directors. Total share capital for the Class A common shares at the end of the year was $$16\mathrm{.}00$ million.

$2.$

$3.$

Common shares, Class B: unlimited authorized; $1,010,000$ issued and outstanding. Class B shares are entitled to one vote per share. The Class B shares receive dividends as declared by the board of directors equal to Class A shares. Total share capital for the Class B shares at the end of the year is $$35\mathrm{.}35$ million.

Preferred shares: unlimited authorized; $3,400,000$ issued and outstanding. The cumulative participating preferred shares are non$-$voting and received a preferential dividend of $$0\mathrm{.}15$ per share per year. Total share capital for the preferred shares as at the end of the year was $$17\mathrm{.}00$ million.

$($a$)$

Sheridan Corporation did not declare any dividends in $2022$ or $2023.$ What is the amount of dividends in arrears?

$2022$

$2023$

Dividends in arrears at the end of year

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