Question: Cash + Non - Cash Assets = Liabilities + Contributed Capital + Accumulated Other Comprehensive Income + Retained Earnings Refer to the Balance Sheet Equation.

Cash + Non-Cash Assets = Liabilities + Contributed Capital + Accumulated Other Comprehensive Income + Retained Earnings
Refer to the Balance Sheet Equation. To recognize the cost of goods sold ORP Corporation will reduce retained earnings and reduce ______.
a. cash
b. liabilities
c. non-cash assets

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