A company pays the stockholders a dividend of $700 during the current accounting period. What is the impact on the income statement from this entry? Income increases by $700 O Cash decreases by $700 None of the Answers is Correct Cash increases by $700 4 pts Income decreases by $700 Next > Time Attemp 33 Min

A company pays the stockholders a dividend of $700 during the current accounting period. What is the impact on the income statement from this entry? Income increases by $700 Cash decreases by $700 None of the Answers is Correct Cash increases by $700 Income decreases by $700