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Excerpts from the statement of financial position for Markham Corporation as of April 30 of the current year are presented as follows:  The board of directors of Markham met on May 5 of the current year and declared a quarterly cash dividend in the amount of $800,000 ($.50 per share). The dividend was paid on May 28 of the current year to shareholders of record as of May 15 of the current year. Assume that the only transactions that affected Markham during May of the current year were the dividend transactions and that the closing entries have been made.Increased by the dividend declaration and unchanged by the dividend payment. Markham’s total shareholders’ equity would beA. Increased by the dividend declaration and unchanged by the dividend payment. B. Unchanged by the dividend declaration and decreased by the dividend payment. C. Unchanged by either the dividend declaration or the dividend payment. D. Decreased by the dividend declaration and unchanged by the dividend payment. |