The shareholders' equity section of Charles Corporation at December 31, 2018 included the following $4 preferred shares, cumulative, 10,000 shares authorized 4,000 shares issued $ 400,000 Common shares, 500,000 shares authorized 350,000 shares issued 2,000,000 Dividends were not declared on the preferred shares in 2018 and are in arrears. On September 15, 2019, the board of directors of Charles Corporation declared all of the required annualdividends on the preferred shares for 2018 and 2019, to shareholders of record on October 1, 2019, payableon October 15, 2019 The amount of total dividends declared on preferred shares on September 15, 2019 is $64.000 $16,000 o $20,000 $32,000