7 1 point the following elements affect the retained earnings account (3): Net income Dividends declared Dividends paid during the period Net losses 8 1 point A cash dividend is declared on 1/1 to shareholders of record on 1/15 and is paid on 1/27. Which of the following is true? The journal entry is entered in the system on 1/15 for the declaration and legal liability. The dividend is paid out and entered into the system 1/27. A legal liability is created on 1/1 and the journal entry made in the system. The dividend is paid out and entered into the system 1/27. Alegal liability is created on 1/1. The dividend is paid out and the entire transaction entered into the system 1/27. o A legal liability is created on 1/1. The journal entry is entered in the system on 1/15 for the declaration. The dividend is paid out and entered into the system 1/27. 9 1 point The following balances exist in a company's stock equity accounts: Common Stock: 100,000. APIC-C/S: 50,000. Retained Earnings: 50,000. Treasury Stock: 50,000. What is Total equity? 50,000 150.000 OOooo 200,000 100.000 250,000