Regarding dividend payments by corporations, default will arise when:Select one:a$.$ Common shares are authorized and issued but no dividend payment has been announced within $120$ days after fiscal year endb. Dividend payment declaration has been made but the dividend is not paid on payable date.c$.$ Dividends declared were not paid to shareholders after ex$-$dividend dated. A share consolidation $($reverse split$)$ has been done by the companye. Preferred share dividends are paid only to those on record as of "record date"