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Smith Company has 200,000 shares authorized, 150,000 shares issued, and 25,000 shares of Treasury stock...

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Accounting

Smith Company has 200,000 shares authorized, 150,000 shares issued, and 25,000 shares of Treasury stock on January 1, 2011. On March 1, they declared and issued a 15% stock dividend. On April 1, the company then declared a $0.35 per share cash dividend. What is the amount of dividends payable on April 1?

A. $50,313

B. $70,438

C. $80,500

D. $130,813

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