An entity declared a cash dividend on its common stock on Dec. 15, Year 1, payable on Jan. 12, Year 2. How would this dividend affect equity on the following dates?
Dec. 15, Year 1 Dec. 31, Year 1 Jan. 12, Year 2
A. Decrease No Effect Decrease
B. Decrease No Effect No Effect
C. No Effect Decrease No Effect
D. No Effect No Effect Decrease