5. Burlon Printing Company had net income of $175.000 for the year ended June 30, 2009. On July 15, 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 I to all shareholders of record as of August 1. What is (a) the date of declaration, (b) the 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)? RETAINED EARNING 1. On January 1, 2011, Green Corporation started the year with a $520,000 balance in retained earnings. During 2011, the company camed net income of $89.500 and declared and paid dividends of $10,000. Also, the company received cash of $150,000 from a new issue of common stock. What is the balance in retained earnings on December 31, 2011