Pinecrat industres, Ine. has 100,000 shares of $1.50 cumulaive preferred shyres outstanding in additon to its common shares. Assume that in 2000 . Pinecrat industries deciares an arnual dividend of $1,000,000. The alocaton to peeferrod and common shareholders is as follow: (Click the icon to view the data.) Aeswer these questions abous Pinecratis cash dividends: Bequitements Requirement 1. How much in divideds must Precait deciare each year belore the common shareholders receivo aty cash dividends for the year? Pinecraft induntries must oeclare dividends of 4 each yeas bedore the common shareholders receive any cath divibends for the year. Requirement 2 Suppote Pinecut declares cash Euvdende of $300,000 tor 2000 . How much d the divdends go is preteredt How much go to commion? Requirement 3. Ae Precatis prefered shares oumiative or nop-cumiacove? itow tan you toin Phnecraf inswows's prefered thares are becave prefered thares ave to common? Isties, inc tas 100,000 shares of 51.50 cimulation prebened whart entranding in adsben to ds comnon shaves Assume tha the sliocaton to prefornd and common sharehaiden in an filew: o loon to Vitw the dita? quewion abeat Pinecralif canh dvidends Data table year. Total dridend