there is also an option for "D"

40 Si 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 May 1 payment of the dividend affect the elements of the financial statements? Balance Sheet Income Statement Stockholders Assets Statement of Cash # Liabilities Equity Revenue - Expense - Net Income A. NA Flows 4,500 (4,500) NA NA NA B. (4,500) (4,500) FA (4,500) NA NA NA NA C. (9.000) (4,500) FA (9.000) NA NA NA D. (9,000) TA NA NA NA NA NA NA NA NA Mugle Choice Option Oonor Option