If the Liabilities of a Company Increased $74,000 During a Period

Multiple Choice

If the liabilities of a company increased $74,000 during a period of time and equity in the company decreased $19,000 during the same period, what was the effect on the assets?

A) Assets would have increased $55,000.
B) Assets would have decreased $55,000.
C) Assets would have increased $19,000.
D) Assets would have decreased $19,000.
E) None of thesE.Assets = Liabilities + Equity