3. The board of directors is deciding whether to declare and pay a cash dividend or to declare and distribute a stock dividend. Complete the following chart to show the overall effect on each financial statement item for cash dividend and a stock dividend. Enter the letter "T" if the effect of the dividend is to increase the financial statement item, a letter "D" if the effect of the dividend is to decrease the financial statement item, or a letter "N" if there is no overall effect. + Item on Financial Statement Stock Dividend Cash Dividend (Declared & Paid) Assets N D Liabilities N N Common Stock - N Retained Earnings D D Total Stockholders' Equity D N Net Income