Yi Company Provided Services to a Customer for $5,500 Cash

question 35

Multiple Choice

Yi Company provided services to a customer for $5,500 cash. As a result of this event:

• A) total assets increased and total stockholders' equity decreased.
• B) total assets were unchanged and cash flows from operating activities increased.
• C) liabilities decreased and net income increased.
• D) total assets increased and net income increased.

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