Poll Question #4 In its first year of operations a company received a $50,000 investment from its owner, had net income of $30,000 and paid dividends of $5,000. Its ending retained earnings balance would be: 1. $80,000 2. $75,000 3. $45,000 4. $25,000 The date of record is the date a cash dividend is paid to stockholders? 1. True 2. False 1 Poll Question #6 Dividends Payable is recorded at the time a cash dividend is declared? 1. True 2. False Poll Question #7 Which is the order in which the dates related to cash dividends occur? 1. declaration, record, payment 2. payment, declaration, record 3. payment, record, declaration 4. record, declaration, payment