Question 5: E15.11B (L0 3,4) (Equity Items on the Balance Sheet) The following are selected transactions that may affect stockholders’ equity. 1. Paid the cash dividend declared in a prior year. 2. Recorded a retained earnings appropriation. 3. Recorded accrued interest earned on a note receivable from a major shareholder. 4. Purchased treasury stock. (The company uses the cost method.) 5. Recorded salary expense accrual. 6. Declared a cash dividend on preferred stock. 7. Declared and distributed a 5% stock dividend. 8. Issued $1 par value common stock (current market price of $75 per share) in exchange for land. Instructions: In the table below, indicate the effect each of the eight transactions has on the financial statement elements listed. Indicate: Increase, Decrease, or No Effect in each box below.