The date of declaration, date of record, and date of payment in connection with a cash dividend of $1,200,000 on a corporation’s common stock are june 1, july 15, and august 14, respectively. illustrate the effects on the accounts and financial statements for june 1. if no account or activity is affected, select "no effect" from the dropdown list and leave the corresponding number entry box blank. enter account decreases and cash outflows as negative amounts. statement of cash flows balance sheet assets = liabilities + stockholders' equity = + june 1. statement of cash flows income statement illustrate the effects on the accounts and financial statements for july 15. if no account or activity is affected, select "no effect" from the dropdown list and leave the corresponding number entry box blank. enter account decreases and cash outflows as negative amounts. statement of cash flows balance sheet assets = liabilities + stockholders' equity = + july 15. statement of cash flows income statement illustrate the effects on the accounts and financial statements for august 14. if no account or activity is affected, select "no effect" from the dropdown list and leave the corresponding number entry box blank. enter account decreases and cash outflows as negative amounts. statement of cash flows balance sheet assets = liabilities + stockholders' equity = + aug. 14. statement of cash flows income statement