need all reauirements

Stering Garde Corporation has 150,000 shares of $1.35 peterred stock outstanding in addaton to its common stock. The $1.35 designation means that the preferred stockhoiders receive an annt casth dividend of $1.35 per share in 2021 , Sterling Garde decleres an prnual dindend of $500,000. The alocation to preferred and common stockholders is: (Click the icon to vew the data.) Fead the tequirements 1. How much in dividends must Sterling Garde declare each year bufore the common stockholders receive any cash dividends for the year? Ondends the campary must deciare each year before the common stockholdors teceivatile any cash dividends * Data table terling Garde Corporation has 150,000 shares of $1.35 preferred stock outstanding in addition to its common stock. The $1.35 designation means that th ash dividend of $1.35 per share. In 2021, Sterling Garde declares an annual dividend of $500,000. The allocation to preferred and common stockholders (Click the icon to view the data.) Read the requiremgafs. Requirements Answer these questions about Sterling Garde's cash dividends. 1. How much in dividends must Sterling Garde declare each year before the common stockholders receive any cash dividends for the year? 2. Suppose Sterling Garde declares cash dividends of $600,000 for 2021 . How much of the dividends goes to preferred shareholders? How much goes to common shareholders? 3. Is Sterling Garde's preferred stock cumulative or noncumulative? How can you tell? 4. Sterling Garde passed the preferred dividend in 2020 and 2021. Then in 2022, Sterling Garde declares cash dividends of $2,000,000. How much of the dividends goes to preferred shareholders? How much goes to common shareholders