Journal entries for dividend declared... Entries for partial amount paid from dividend declated... How it is effected in financial statements?

Journal entry for dividend declared

In preparing my income statement I was given this piece of additional information: During 2008, the person recorded dividend payment of $260 000 to a major shareholder for consulting work. A dividend was also declared on Dec 31, 2008 in the amount of $120000. How will I incorporate this...