QUESTION 51 Indicate the effect of the following event on the company's accounting equation. For each account title affected indicate the specific account name, dollar change, and whether it increased or decreased. Show the correct effect in the Stockholders' Equity column so the Balance Sheet balances. Paid the cash dividend declared in event above. Decreased the asset cash and liability dividends payable $108,000 Decreased the asset cash and increased dividends expense, thereby decreasing the stockholders' equity retained earnings $108,000 Decreased the asset cash and Increased the liability dividends payable $108,000 O Increased the asset cash and decreased the liability dividends payable $108,000