Exercise 13-7\ Financial statement impact of dividends and splits P2\ For each dividend and stock split issued, determine the impact-increase, decrease, or no effect-on total assets, total liabilities, and total equity.\ \\\\table[[,Total Assets,Total Liabilities,Total Equity],[$5,000 cash dividend,,,],[

7%

stock dividend,,,],[

40%

stock dividend,,,],[7-for- 1 stock split,,,]]

Exercise 13-7 Financial statement impact of dividends and splits For each dividend and stock split issued, determine the impact-increase, decrease, or no effect-on total assets, total liabilities, and total equity. P2