Preferred shares, $0.015, cumulative, liquidation value $0.80 75,000 shares authorized, 70,000 shares issued and outstanding $ 38,000 Common shares, 1.200,000 shares authorized and issued and outstanding 120.000 165,000 Retained earnings $ 323,000 Total shareholders' equity Platinum Inc. has the following shareholders' equity (Click the icon to view the data.) Answer these questions about Platinum's dividends: 1. Are Platinum Inc.'s preferred shares cumulative or noncumulative? How can you tell? Assume there are no dividends in arrears. 2. Suppose Platinum Inc declares cash dividends of $14,000 for 2020 How much of the dividends goes to preferred shares? How much goes to common shares? 3. Suppose Platinum Inc. did not pay the preferred dividend in 2018 and 2019. In 2020 the company declares cash dividends of $14.000 How much of the dividends goes to preferred shares? How much goes to common shares? 1. Are Platinum Inc.'s preferred shares cumulative or noncumulative? How can you tell? Assume there are no dividends in areas Platinum's preferred shares are because they are specifically designated as