9 Indicate how Assets, Liabilities, Net Income, and cash flow are affected at the time of the transaction (I-increase, D-decrease, and NE=no effect). 2. Declare dividends to be paid later. Assets Liabilities Net Income Cash Flow QUESTION 10 Indicate how Assets, Liabilities, Net Income, and cash flow are affected at the time of the transaction (I-increase, D-decrease, and NE=no effect). 3. Recognize depreciation on equipment. Assets Liabilities Net Income Cash Flow