Analyze effect of dividends on financial statements. (LO 2) On December 15, 2008, the board of directors

Question:

Analyze effect of dividends on financial statements. (LO 2)

On December 15, 2008, the board of directors of Seat Corporation declared a cash dividend, payable January 8,2009 , of $\$ 1.50$ per share on the 100,000 common shares outstanding. The accounting period ends December 31 . How will this be reflected on the balance sheet at December 31, 2008?

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