On January 1, Flounder Corp. had 61,500 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred.

Apr. 1		Issued 11,700 additional shares of common stock for $12 per share.
June 15		Declared a cash dividend of $1.90 per share to stockholders of record on June 30.
July 10		Paid the $1.90 cash dividend.
Dec. 1		Issued 5,200 additional shares of common stock for $13 per share.
Dec. 15		Declared a cash dividend on outstanding shares of $2.30 per share to stockholders of record on December 31. (b) How are dividends and dividends payable reported in the financial statements prepared at December 31?