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

question 117

Multiple Choice

Yi Company provided services to a customer for $5,500 cash. Based on this information alone, which of the following statements is true?

• A)Total assets increased and total stockholders' equity decreased.
• B)Total assets were unchanged.
• C)Liabilities decreased and net income increased.
• D)Total assets increased and net income increased.