Piano Corporation has a current ratio of 1:2. Piano pays a cash dividend that was previously declared. How will the journal entry to record the payment affect the Current Ratio and Stockholders Equity, respectively? Select one: O a. Increase, No Effect O b. Increase, Increase O c. No Effect, Decrease O d. Decrease, No Effect O e.No Effect, No Effect Do property dividends and stock dividends reduce total Stockholders' Equity? Select one: a. Property Dividends do, but Stock Dividends do not O b. Stock Dividends do, but Property Dividends do not. O c. Both Property Dividends and Stock Dividends decrease Stockholders' Equity O d. Neither Property Dividends nor Stock Dividends decrease Stockholders' Equity How does the declaration of a cash dividend that is entirely liquidating affect Paid-in-Capital and Current Liabilities, respectively? Select one: O a. No effect. No effect O b. Decrease. Decrease O c. Decrease, Increase O d. Decrease. No cffest O e. No effect, Increase The Borio Company had an asset with an $8 book value and a $7 market value it decided to distribute the asset as a property dividend. Journal entries were made to adjust the property to market value and declare the dividend. Indicate the combined effect on the Net Income and Total Assets, respectively, Select one O a. Decrease, Decrease b. No Effect, Decrease O c. No Effect. Increase O d. Decrease, Increase O e Increase, Decrease Puppy Company includes one coupon in each bag of dog food itsells. In return for 5 coupons, customers receive a toy dog that the company purchases for $1 each. Puppy Company's experience indicates that 60% of the coupons will be redeemed. Information for 2019 is as follows: Bags of Dog Food Sold Toys Purchased Coupons Redeemed 2019 250,000 12,000 40,000 The amount of estimated liability for premiums on the 12/31/19 balance sheet is: Select one: O a. $6,000 O b. $18,000 O c $22,000 O d. $35,000 O e. $18,000