$13-23.$ Accounting for retained earnings

$($L$.$O$.13-4)($Medium $-10$ minutes$)$

$.$ Belmont Corporation has a December $31$ year$-$end. On December $15,2021,$ the board of directors declared a cash dividend of $$0\mathrm{.}50$ per common share, payable on January $30,2022.$ The date of record for this dividend is January $14,$ and the ex$-$dividend date is January $12,2022.$ Additional information relating to the shares follows:

$\backslash$table$[[,$No$.$ of common shares at end of day,$],[$Date$,$Issued,Outstanding$],[$December $15,2021,4,000,000,4,000,000$