Choi Incorporated declared dividends of $67960 on February 18th of this year. The shareholders as of that date will receive the dividend on March 18th. What is the effect of the February 18th transaction on the accounting equation? Select one: a. Assets will decrease by $67960 and shareholder's equity will decrease by $67960 b. There is no effect on the accounting equation on February 18th seeing as no cash was paid c. Liabilities will increase by $67960 and shareholder's equity will increase by $67960 d. Liabilities will increase by $67960 and shareholder's equity will decrease by $67960