In 2013, a company has 5,000 Common Shares outstanding as well as 1,000 Cumulative Preferred Shares with an annual dividend of $1.50. The company has not paid dividends in either 2011 or 2012. On December 31, 2013, the company authorizes and declares dividends on the Common Shares for $3 per share. What would be the dividend liability at the end of 2013 on the statement of financial position?

Options: (A) $18,000 (B) $0 (C) $4,500 (D) $19,500