On October 1, Allison Corporation declared a $70,000 cash dividend to be paid on December 15 to shareholders of record on November 1. Which of the following shows how Allison's financial statements will be affected on October 1? Crowe Company began operations on January 1, Year 1. The company was organized as a sole proprietorship. During Year 1, Crowe acquired $40,000 of capital from John Crowe, the owner. Also, during Year 1 the company earned net Income of $20,000 and John Crowe withdrew $15,000 from the business. Based on this Information, the Company would show $45,000 In Its capital account on the Year 1 balance sheet. $25,000 in Its capital account on the Year 1 balance sheet. $40,000 In Its capital account on the Year 1 balance sheet. $5,000 in Its capital account on the Year 1 balance sheet. On October 1, Allison Corporation declared a $70,000 cash dividend to be paid on December 15 to shareholders of record on November 1. Which of the following shows how Allison's financial statements will be affected on December 15