Question: Burlon Printing Company had net income of 175 000 for the

Burlon Printing Company had net income of $175,000 for the year ended June 30, 2009. On July 15, 2009, the board of directors met and declared a dividend of $0.35 per share for each of the 150,000 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,
(c) The date of payment? If Burlon Printing Company were to prepare a balance sheet on July 31, 2009, how would it report the dividends (if at all)?

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