Copperhead.com prepared the following stockholders€™ equity section as of December 31, 2012.

Answer the following questions about Copperhead.com€™s dividends:
1. How much in dividends must Copperhead.com declare each year before the common stockholders get any cash dividends for the year?
2. Suppose Copperhead.com declares cash dividends of $30,000 for 2012. How much of the dividends goes to preferred? How much goes to common?
3. Is Copperhead.com€™s preferred stock cumulative or noncumulative? How can you tell?
4. Suppose Copperhead.com passed the preferred dividend in 2013 and 2014. In 2015, the company declares cash dividends of $18,000. How much of the dividends goes to preferred? How much goes tocommon?

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Stockholders Equity Paid-in Capital Preferred Stock, 6%, $100 par, 6,000 shares authorized. 800 shares issued and outstanding 80,000 Common Stock, $12 par, 25,000 shares authorized, 5,000 shares issued and outstanding Paid-in Capital in Excess of Par-Common 60,000 95,000 $235,000 125,000 Total Paid-in Capital Retained Earnings Total Stockholders' Equity