Abe's Steakhouse is the largest upscale steakhouse company in the United States, based on total company and franchisee-owned restaurants. The company's menu features a broad selection of high-quality steaks and other premium offerings. Assume the information below is from a recent annual report: a. Common stock, $0.01 par value; 100,050,000 shares authorized; 23,513,356 issued and outstanding at the end of the current year, 23,345,356 issued and outstanding at the end of last year. b. Additional paid-in capital: $193,389,000 at the end of the current year and $169,431,000 at the end of last year. c. Retained earnings / (accumulated deficit): ($80,697,000) at the end of last year. d. In the current year, net income was $55,283,000 and a cash dividend of $7,138,000 was paid. Required: Prepare the stockholders' equity section of the balance sheet to reflect the above information for the current year and last year. (Amounts to be deducted should be indicated with a minus sign.) (Amounts to be deducted should be indicated with a minus sign.) Answer is not complete. ABE'S STEAKHOUSE Balance Sheet (Partial) Current Year Last Year Shareholders' equity: Common stock Additional paid-in capital Accumulated deficit 233,454 169,431,000 $ (80,697,000) Total shareholders' equity 88,967,454 0 On December 15, 2019, the board of directors of Cross Corporation declared a cash dividend, payable on January 8, 2020, of $0.80 per share on the 2,000,000 common shares outstanding. On December 15, 2019, Cross Corporation should: Multiple Choice decrease retained earnings $1.6 million and increase expenses $1.6 million. decrease cash $1.6 million and decrease retained earnings $1.6 million. not prepare a journal entry because the event had no effect on the corporation's financial position until 2020