1. Burlon Printing Company has net income of $175,000 for the year each 6/30/2009, the board of directors met and declared a dividend of $0.35 per share for each of the 150,000 outstanding shares of common stock. The board voted to make the actual distribution on September 1 to all shareholders of record as of August 1. What is the (a) declaration, (b) date of record, and (c) the date of payment? If Burlon Printing Company were to prepare a balance sheet on July 31, 2009, how would it report the dividends (if at all)?