Platinum Trust has the following stockholders equity:

Requirements

R1. Is Platinum?s preferred stock cumulative or noncumulative? How can you tell?

R2. Platinum declares cash dividends of $15,000 for 2010. How much of the dividends goes to preferred? How much goes to common?

R3. Platinum passed the preferred dividend in 2011 and 2012. In 2013 the company declares cash dividends of $25,000. How much of the dividend goes to preferred? How much goes to common?