Bledsoe Company Acquired $18,000 Cash by Issuing Common Stock on January

Multiple Choice

Bledsoe Company acquired $18,000 cash by issuing common stock on January 1, Year 1. During Year 1, Bledsoe earned $8,800 of revenue on account. The company collected $6,600 cash from customers in partial settlement of its accounts receivable and paid $5,700 cash for operating expenses. Based on this information alone, what was the impact on total assets during Year 1?

A) Total assets increased by $27,700.
B) Total assets increased by $900.
C) Total assets increased by $21,100.
D) Total assets did not change.