Question 1 (2 points) The effect of the declaration and payment of a cash dividend on a company's financial statements is to decrease total liabilities and stockholders' equity O increase total expenses and total liabilities. O increase total assets and stockholders' equity. O decrease total assets and stockholders' equity. Save Question 2 (2 points) What is the total stockholders' equity based on the following account balances? NOTE: All accounts have normal balances Common Stock $1,000,000 Paid-In Capital in Excess of Par $80,000 Retained Earnings - $380,000 Treasury Stock - $40,000 $1,260,000 O $1,420,000 $1,500,000 O $920,000 Save