7 0254.00 On December 15, 2019, the board of directors of Cross Corporation declared a cash dividend, payable on January 8, 2020, of $104 per share on the 2,000,000 common shares outstanding. On December 15, 2019, Cross Corporation should Multiple Choice not prepare a journal entry because the event had no effect on the corporation's financial position until 2020 decrease retained earnings $2.08 million and increase expenses $2.08 million O decrease cash $2.08 million and decrease retained earnings $2.08 million O decrease retained earnings $2.08 million and increase liabilities by $2.08 million