Use the following information for all questions related to Colchuck Company.

Colchuck Company has the following information for Year $1$ and Year $2.$ Year $1$ is Colchuck's first year in business.

Year $1$:

Colchuck Company issues $2,000$ shares of $$1$ par value common stock for $$12$ per share.

Colchuck issues $100$ shares of $10\%$ cumulative preferred stock, which has a par value of $$10.$ Colchuck received $$11$ per preferred share from investors.

Colchuck earns income in its first year of operations of $$10,000.$ Colchuck does not pay a dividend in Year $1.$

Year $2$:

Colchuck buys $200$ shares of its own common stock from the market for $$14$ per share.

Colchuck initiates a $2$:$1$ common stock split on outstanding common shares.

Colchuck earns income of $$20,000$ and declares, but does not pay, dividends of $$12,000$ to be divided among preferred and common shareholders.

Flag question: Question $5$

Question $51$ pts

Calculate retained earnings for Colchuck Company as of December $31$st$,$ Year $2,$ after all closing entries have been made.

Flag question: Question $6$

Question $61$ pts

What amount of cash dividends will preferred shareholders of Colchuck Company receive in Year $2?$

Flag question: Question $7$

Question $71$ pts

Calculate Colchuck's total stockholder's equity at the end of Year $2.$