Baltimore Company paid $3,600 cash for the right to use office space during the coming year. Which of the following shows how this event would affect Baltimore's financial statements?
Balance Sheet
Income Statement
Statement of Cash
Assets = Liab. + Equity
Rev. - Exp. = Net Inc.
Flows
A.
NA
NA
NA
NA
-OA
B. 3,600
3,600
NA
NA
NA
-OA
C. 3,600
NA
3,600
3,600
NA
-OA
D. (3,600)
NA
(3,600)
NA
NA
NA
Multiple Choice
Option A
Option B
Option C
Option D