If you are in a boat in the middle of a lake holding a bowling ball and you throw the bowling ball into the water will the boat sink slightly or be raised out of the water slightly? Why?

I worded the question wrong and feel foolish for doing so. Here is the actual question: If we had measured the level of the lake before the ball was thrown over board, and again after the ball settled on the bottom of the lake, would we have found that the level of the lake increased, decreased, or remained the same?