Gary Company, Inc. (GCI) has a balance sheet that shows retained earnings of $10 million. Given that knowledge, which of the following is the most correct statement?

a-Under state law, GCI can legally pay dividends this year of up to $10 million.

b-Under federal law, GCI can legally pay dividends this year of up to $10 million.

c-GCI has the cash available to pay dividends this year of up to $10 million.

d-GCI has the liquid assets available to pay dividends this year of up to $10 million.