The board of directors of Capstone Inc. declared a $.80 per share cash dividend on its $2 par common stock. On the date of declaration, there were 50,000 shares authorized, 20,000 shares issued, and 4,000 shares held as treasury stock. What is the entry for the dividend declaration?

Dividends	12,800
Cash		12,800

Dividends	12,800
Dividends payable		12,800

Dividends	40,000
Dividends payable		40,000

Dividends	16,000
Cash		16,000