Mailings Review View EEEEE AaBbCcDc ABCDdB AkCedi ABCDE The following instructions apply to Questions 1 and 2. In each of the seven boxes in the table that accompanies these two questions, indicate how each event affects the elements of financial statements. Use the following letters (I, D or N) to record your answer in the box shown below each element. You do not need to enter amounts. Do not leave any box blank. Increase = I Decrease =D No Effect = N 1. Smith Co. declared a $10,000 cash dividend, payable to its stockholders in the next accounting period. (Record the impact in the current accounting period.) Assets Liabilities Equity Revenues Expenses Net Income Cash