Access Garde Inc. has 75,000 shares of $130 cumulative preferred shares outstanding in addition to its common shares. Assume that in 2020, Access Gar as follows (Click the icon to view the data.) Answer these questions about Access's cash dividends Requirements Requirement 1. How much in dividends must Access declare each year before the common shareholders receive any cash dividends for the year? Access Garde must declare dividends of each year before the common shareholders receive any cash dividends for the year Requirement 2. Suppose Access declares cash dividends of $600,000 for 2020 How much of the dividends go to preferred? How much go to common? Class of shares Preferred 2020 Dividends Common Total Requirement 3. Are Access's preferred shares cumulative or non-cumulative? How can you tell? unless they are stated as because preferred shares are Access Garde's preferred shares are Requirement 4. Access passed the preferred dividend in 2018 and 2019. Then in 2020, Access declares cash dividends of $1,600,000 How much of the de Class of Shares 2020 Dividends me that in 2020, Access Garde declares an annual dividend of $1,001,000. The allocation to preferred and common shareholders is dends for the year? ar 7 ow much go to common? che common shareholders receive any cash dividends for the voar areh Data Table - X - Preferred dividend (75,000 shares x $1.30 per share) $ 97,500 903,500 Common dividend (remainder $1,001,000 - $97,500) $ 1,001,000 Total dividend How Print Done s all in 2020, Access declares cash dividends of $1,600,000. How much of the dividends go to preferred? How i i Requirements 1. How much in dividends must Access declare each year before the common shareholders receive any cash dividends for the year? 2. Suppose Access declares cash dividends of $600,000 for 2020. How much of the dividends go to preferred? How much go to common? 3. Are Access's preferred shares cumulative or non-cumulative? How can you tell? 4. Access passed the preferred dividend in 2018 and 2019. Then in 2020, Access declares cash dividends of $1,600,000. How much of the dividends go to preferred? How much go to common? Print Done Common Total Requirement 3. Are Access's preferred shares cumulative or non-cumulative? How can you toll? Access Garde's preferred shares are because preferred shares are unless they are stated as Requirement 4. Access passed the preferred dividend in 2018 and 2019. Thon in 2020, Access declares cash dividends of $1,600,000 How much of the de Class of Shares 2020 Dividends Preferred Common Total Enter any number in the edit fields and then continue to the next question less they are stated as ash dividends of $1,600,000. How much of the dividends go to preferred? How much go to common