The Board of Directors of Irondale Corporation Declared a Cash

The board of directors of Irondale Corporation declared a cash dividend of $2.50 per share on 57,000 shares of common stock on June 14, 2010. The dividend is to be paid on July 15, 2010, to shareholders of record on July 1, 2010. The effects of the entry to record the payment of the dividend on July 15, 2010, are to

A) increase assets and decrease stockholders' equity.
B) decrease stockholders' equity and decrease liabilities.
C) decrease liabilities and decrease assets.
D) increase stockholders' equity and decrease liabilities.