On January $31,2020,$ Android Corp. purchased $5,000$ shares of Smart Co$.$ common stock for $$15$ a share. Android accounts for the investment at fair value with adjustments to fair value recorded in net income. On March $15,2020,$ Android Corp. declared a property dividend of $3,000$ shares of Smart Co$.$ common stock, to be distributed on March $31,2020.$ The shares of Smart Co$.$ were selling at $$18$ per share on March $15,2020.$ The investment has not been adjusted to fair value since its purchase date.

On the date of declaration of the property dividend, the Android Corp. would

Select one:

a$.$

Recognize a liability account of $$45,000.$

b$.$

Recognize a decrease in assets of $$45,000.$

c$.$

Recognize an increase in net income of $$9,000.$

d$.$

Recognize a liability account of $$9,000.$