Required information On March 1 Year 1. Gilmore Incorporated declared a cash dividend on its 1.500 outstanding shares of $50 par value, 6% preferred stock. The dividend will be paid on May 1, Year 1 to the stockholders of record as of April 1. Year 1. How will the entry to record the declaration of the dividend on March 1 affect the elements of the financial statements? Rev. Net Inc. Exp. 9,000 Stmt. of Cash Flows NA NA Stk. Equity (9,800) (9,800) (4,500) (4,500) Assets NA NA (4,500) NA (9,800) Liab. (9,000) 9,000 NA 4.500 NA NA NA D. NA NA NA NA NA (4,500)FA NA Multiple Choice Option A 0 0 0