Wildhorse Corporation has 8,200 shares of $100 par value, 7%, preferred stock and 46,200 shares of $10 par value common stock outstanding at December 31, 2017 Answer the questions in each of the following independent situations. (a) If the preferred stock is cumulative and dividends were last paid on the preferred stock on December 31, 2014, what are the dividends in areas at December 1, 2017 Amount of dividends in arrears How should these dividends be reported? The cumulative dividend is as a liability (b) If the preferred stock is convertible into 7 shares of $10 par value common stock and 3,300 shares are converted, what entry is required for the conversion assuming the preferred stock was issued at par value? (Credit account titles are automatically indented when amount is entered. Do not indent m y . If no otry is rewind select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit stockholders'equity section (Enter account me only and do not (c) If the preferred stock was issued at $105 per share, how should the preferred provide descriptive information.) (b) If the preferred stock is convertible into 7 shares of $10 par value common stock and 3,300 shares are converted, what entry is required for the conversion assuming the preferred stock was issued at par value? (Credit account titles are automatically Indented when amount is entered. Do not indent manually. If no entry is required select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit (c) If the preferred stock was issued at $105 per share, how should the preferred stock be reported in the stockholders' equity section (eter accountamenly and do not provide descriptive information) Wildhorse Corporation Balance Sheet(Partial)