On March 1, Year 1, Gilmore Incorporated Declared a Cash

Multiple Choice

On March 1, Year 1, Gilmore Incorporated declared a cash dividend on its 1,500 outstanding shares of $50 par value, 6% preferred stock. The dividend will be paid on May 1, Year 1 to the stockholders of record as of April 1, Year 1.Which of the following reflects the financial statement effects on the May 1, Year 1 date of payment?

A) Choice A
B) Choice B
C) Choice C
D) Choice D