wo. QUESTION 18 Entity B purchased equipment and incurred the following costs: Cash price $24,000 Sales taxes 1920 Insurance during transit 200 Installation and testing 500 What amount should be recorded as the cost of the equipment? O $25,920 $26,620 $24,000 $26 120 QUESTION 19 Dividends in arrears on cumulative preferred stock never have to be paid even if common dividends are paid enable the preferred stockholders to share equally in corporate earnings with the common stockholders. should be disclosed in the notes to the financial statements should be recorded as a current liability until they are paid.