Plz solve this for me

- Final Assessment - Available April 24 from 10:00am to 11: Time Left:1:12:13 Ranvir Singh Ranvir Singh: Attempt 1 Previous Page Next Page Page 5 of 20 Question 5 (1 point) In January, a company bought $50,000 worth of inventory which was paid for in February. The company then sold the entire inventory in February for $70,000 on account. The customer paid in March. Which of the following is correct? Assume the company uses a perpetual inventory system. Equity decreased in January by $50,000 increased and increased in February by $20,000 Equity increased in March with a gross profit of $20,000 and a gross profit margin of 28.5% Equity increased in February by $20,000 with a gross profit margin of 28.5% Equity increased in March by $20,000 with a gross profit margin of 40% Previous Page Next Page Page 5 of 20 O TT 19 144 16