On October $1,$ Allison Corporation declared a $$70,000$ cash dividend to be paid on December $15$ to shareholders of record on November $1.$ Which of the following shows how Allison$$s financial statements will be affected on November $1?$ The letters $$NA$$ indicate that the component of the equation is $$Not Affected$.$

Multiple Choice

Balance SheetIncome StatementStatement of Cash FlowsAssets$=$Dividends Payable$+$Common Stock$+$Retained EarningsRevenues$$Expenses$=$Net IncomeNA$$$$70,000$NA$$$$(70,000)$NA$$NA$$NANA

Balance SheetIncome StatementStatement of Cash FlowsAssets$=$Dividends Payable$+$Common Stock$+$Retained EarningsRevenues$$Expenses$=$Net Income$$(70,000)$$$(70,000)$NA$$NANA$$NA$$NA$$(70,000)$ Financing

Balance SheetIncome StatementStatement of Cash FlowsAssets$=$Dividends Payable$+$Common Stock$+$Retained EarningsRevenues$$Expenses$=$Net IncomeNA$$$$70,000$NA$$$$(70,000)$NA$$NA$$NA$$(70,000)$ Financing

Balance SheetIncome StatementStatement of Cash FlowsAssets$=$Dividends Payable$+$Common Stock$+$Retained EarningsRevenues$$Expenses$=$Net IncomeNA$$NA$$NA$$NANA$$NA$$NANA