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The following balances were shown on the year-end balance sheets for 2009 and 2010 for Columbia Company. For each item, give the most likely reason for the change from one year to the next. December 31 December 31 2009 2010 $45,000 $50,000 Common stock Paid-in capital $200,000 S230,000 $182,500 $200,000 Retained earnings $(3,450) Treasury stock S(5,450) Net income for the year was $20,000 Account Likely reason for change Common Stock Additional Paid-in Capital Retained Earnings Treasury Stock Issued additional shares of common stock Issued additional shares of preferred stock Issued common stock at a price above par Issued preferred stock at a price above par Net income; dividends declared Net loss Purchased additional treasury shares Sold shares in treasury Fine Printing Company had net income of $182,000 for the year ended June 30, 2009. On July 15, 2009, the board of directors met and declared a dividend of $0.34 per share for each of the 147,000 outstanding shares of common stock. The board voted to make the actual distribution on September 1 to all shareholders of record as of August 1. What is (a) the date of declaration, (b) the date of record, and (c) the date of payment? If Fine Printing Company were to prepare a balance sheet on July 31, 2009, how would it report the dividends (if at all)? (a) What is the date of declaration? June 30, 2009 July 15, 2009 July 31, 2009 August 1, 2009 September 1,2009