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XYZ Co. declared and paid cash dividends of $5,000. Which of the following is correct regarding the impact of this event on the financial statements?

XYZ Co. declared and paid cash dividends of $5,000. Which of the following is correct regarding the impact of this event on the financial statements? The dividend will increase in equity. The dividend will increase expenses. The dividend does not change equity. The dividend will decrease revenues. The dividend will decrease equity

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