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Need help with this question Following is the shareholders' equity section of the balance sheet of the Lazy Desk Corporation: S. are capital: Common shares,

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Following is the shareholders' equity section of the balance sheet of the Lazy Desk Corporation: S. are capital: Common shares, 100,000 shares authorized, The common shares are currently selling for $15.50 per share. The entry to record the declaration of a $0.75 per share cash dividend includes: Debit to dividends payable; $48,750 Credit to common shares, $48,750 Debit to retained earnings; $48,750 Debit to retained earnings; $75,000 Following is the shareholders' equity section of the balance sheet of the Lazy Desk Corporation: S. are capital: Common shares, 100,000 shares authorized, The common shares are currently selling for $15.50 per share. The entry to record the declaration of a $0.75 per share cash dividend includes: Debit to dividends payable; $48,750 Credit to common shares, $48,750 Debit to retained earnings; $48,750 Debit to retained earnings; $75,000

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