Which of the following statements is CORRECT?

a.

If a company pays more in dividends than it generates in net income, its retained earnings as reported on the balance sheet will decline from the previous year's balance.

b.

If a company uses some of its bank deposits to buy short-term, highly liquid marketable securities, this will cause a decline in its current assets as shown on the balance sheet.

c.

Dividends paid reduce the net income that is reported on a companys income statement.

d.

If a company issues new long-term bonds to purchase fixed assets during the current year, this will increase both its reported current assets and current liabilities at the end of the year.

e.

Accounts receivable are reported as a current liability on the balance sheet.