Question 10 of 18 < Current Attempt in Progress Your answer is partially correct. The following are selected transactions that may affect equity. 1. Recorded accrued interest earned on a note receivable. 2. Declared and distributed a share split 3. Declared a cash dividend. 4 Recorded a retained earnings restriction 5. Recorded the expiration of insurance coverage that was previously recorded as prepaid insurance 6. Paid the cash dividend declared in item 3 above. 7. Recorded accrued interest expense on a note payable. 8. Declared a share dividend. 9. Distributed the share dividend declared in item 8. 2.56/3 In the following table, indicate the effect each of the nine transactions has on the financial statement elements listed. Item Assets Liabilities 1. Increase No effect v No effect 2. No effect No effect Equity Share Premium Retained Earnings Net Income No effect v No effect v Increase No effect v No effect v No effect v No effect No-effect Decrease No effect 3. No effect Increase No effect No effect No effect No effect No effect v No effect V No effect 5. Decrease No effect No effect No effect No effect V Decrease Decrease Decrease No effect No effect v No effect Y No effect No effect No effect Decrease 7. No effect v Increase 8. No effect No effect No effect v Increase 3 No effect v Decrease No effect No effect No effect v No effect No effect No effect No effect