Copperhead Inc. has the following shareholders' equity: : (Click the icon to view the data.) Answer these questions about Copperhead's dividends: 1. Are Copperhead Inc.'s preferred shares cumulative or noncumulative? How can you tell? Assume there are no dividends in arrears. 2. Suppose Copperhead Inc. declares cash dividends of $21,000 for 2020. How much of the dividends goes to preferred shares? How much goes to common shares? 3. Suppose Copperhead Inc. did not pay the preferred dividend in 2018 and 2019. In 2020, the company declares cash dividends of $21,000. How much of the dividends goes to preferred shares? How much goes to common shares? 1. Are Copperhead Inc.'s preferred shares cumulative or noncumulative? How can you tell? Assume there are no dividends in arrears. Copperhead's preferred shares are cumulative because they are specifically designated as cumulative 2. Suppose Copperhead Inc. declares cash dividends of $21,000 for 2020. How much of the dividends goes to preferred shares? How much goes to common shares? Copperhead's dividend would be divided between preferred and common shares in this manner: Shareholders' equity - X Copperhead's preferred shares dividend for 2020 Copperhead's common shares dividend for 2020 $ 26,000 Preferred shares, $0.05, cumulative, liquidation value $0.60 55,000 shares authorized, 50,000 shares issued and outstanding Common shares, 1,000,000 shares authorized and issued and outstanding 200,000 170,000 Retained earnings $ 396.000 Total shareholders' equity Enter any number in the edit fields and then click Check