Given below is some summarized information taken from the adjusted trial balance of New Company at December 31, Year 2, the end of its second year of operations.

	Debit	Credit
Cash	15,000
A/R	6,000
Equipment (net)	66,000
A/P		31,000
Dividends Payable		3,000
Common Stock ($3 par, 1,000 shares issued)		3,000
APIC		27,000
Treasury Stock (200 shares)	8,000
Retained Earnings		14,000
Revenues		98,000
Expenses	78,000
Dividends Declared	3,000	.
Total	176,000	176,000

The only treasury stock transaction was the purchase of 200 shares on November 15, Year 2.

New Company
Statement of Retained Earnings
For the Year Ended December 31, Year 2
	Line 1	$
	Line 2	20,000
	Line 3	.
	Line 4	$31,000

Based on the information given above, which one of the following statements is "correct" (true) with respect to the dividends [remember the entries made!].? a. the declaration date was before December 31, but the payment date is after December 31

b. both the declaration date and payment date were before December 31, but the record date is after December 31

c. the record date is before December 31, but both the declaration date and payment date are after December 31

d. the record date, declaration date and payment date are all after Dec. 31