Steverson Air Conditioning, Inc., had net income of $210,000 for the year ended December 31, 2009. On January 15, 2010, the board of directors met and declared a dividend of $0.15 per share for each of the 200,000 outstanding shares of common stock. The board voted to make the actual distribution on April 1 to all shareholders of record as of March 1. What is
(a) The date of declaration,
(b) The date of record,
(c) The date of payment?
If Steverson Air were to prepare a balance sheet on January 31, 2010, how would the dividends be reported (if at all)?