During 2019, CliffCo Inc. incurred operating expenses of $250,000, of which $150,000 was paid in cash; the balance will be paid in January 2020. Transaction analysis of operating expenses for 2019 should reflect only the following:

a. Decrease stockholders’ equity, $150,000; decrease assets, $150,000.

b. Decrease assets, $250,000; decrease stockholders’ equity, $250,000.

c. Decrease stockholders’ equity, $250,000; decrease assets, $150,000; increase liabilities, $100,000.

d. Decrease assets, $250,000; increase liabilities, $100,000; decrease stockholders’ equity, $150,000.

e. None of the above is correct.