also an option for "D"

39 On March 1, Year 1, Gilmore Incorporated declared a cash dividend on its 1500 outstanding shares of $50 par value, 6% preferred stock. The dividend will be paid on May 1 Year 1 to the stockholden of record as of April 1. Yeart How will the entry to record the declaration of the dividend on March 1 affect the elements of the financial statements? Balance Sheet Incone Statement Stockholders' Assets = Liabilities Statement of Equity Revenue - Expense Net Income A. NA (9,800) Cash Flows (9,000) NA B. 9,000 19,000) NA 9,000 19,000) NA NA C. 4.500) NA NA (4,500) NA NA NA D. NA (4,500) FA 4,500 (4,500) NA NA NA NA NA $333 NA Multiple Choice Option A Option Option