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Divine Apparel has 3 , 6 0 0 shares of common stock outstanding. On October 1 , the company declares a $ 0 . 5

Divine Apparel has 3,600 shares of common stock outstanding. On October 1, the company declares a $0.50 per share dividend to stockholders of record on October 15. The dividend is paid on October 31.
Determine the financial statement effects for (1) the declaration of dividends on October 1 and (2) the payment of dividends on October 31.
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Determine the financial statement effects for the declaration of dividends on October 1.(Amounts to be deducted should be entered with minus sign.)
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