During 2013, Bledsoe Company Earned $6,700 of Cash Revenue, Paid

Multiple Choice

During 2013, Bledsoe Company earned $6,700 of cash revenue, paid cash dividends of $950 to owners and paid $5,000 for cash expenses. Liabilities were unchanged. Which of the following accurately describes the effect of these events on the elements of the company's financial statements?

A) Assets increased by $7,700.
B) Assets increased by $750.
C) Equity increased by $2,700.
D) Both B and C