Use the Following Information to Answer Questions

Multiple Choice

Use the following information to answer questions
On April 10, Milo Corp. declared a cash dividend of $0.25 per share to stockholders of record on April 30. The dividend is payable on May 15. Milo had 200,000 shares of common stock authorized, 160,000 shares of common stock issued, and 157,000 shares of common stock outstanding on April 10.
-On April 10, Milo Corp. will record a(an)

A) liability for $40,000.
B) expense for $40,000.
C) liability for $39,250.
D) expense for $39,250.
E) none of the above.