On January 1, Cowboy Ice Cream declared a $3,000 cash dividend to be paid on January 31 to shareholders of record on January 15. What is the effect on Cowboy Ice Cream's financial statements on January 31? (Select all that apply) Dividends Payable decreases by $3,000 Dividends decrease by $3,000 Retained Earnings decrease by $3,000 Net Income decreases by $3,000 No effect on the financial statements Financing cash outflow of $3,000 Dividends Payable increases by $3,000 Cash decreases by $3,000