-Power Corporation designs and produces a line of equipment and apparel. They have 100,000 shares of common stock outstanding as of beginning of 2021. Power Corp has the following transaction affecting stockholders equity in 2021:

-Record Declaration of cash dividend of $1.75 per share to all stockholders of record on June 15. (dividends are not paid on treasury stock.)

*Pays cash dividend declares on June 1*

-Record payment of the cash dividend declared on June 1