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During the month, a company uses up $4,000 of supplies. At the end of the month, the related adjusting journal entry should result in: Multiple Choice an increase in liabilities and an equal decrease in shareholders' equity. a decrease in an asset and an equal increase in expenses. a decrease in an asset and an equal Increase in liabilities. an Increase in liabilities and a loss of equal value. On the statement of retained earnings: Multiple Choice dividends declared are subtracted to calculate the end-of-year balance of retained earnings. dividends declared are not used to calculate the end-of-year balance of retained earnings. dividends declared are never reported. dividends declared Increase net Income and are added to calculate the end-of-year balance of retained earnings