Question 3 44 pts The grid below is a list of possible effects on the Income Statement and the Balance Sheet. The code is: + = increase; decrease; NE = no effect. Revenue/Gain Expense/Loss Net Income Assets Liabilities Equity a. NE +100 --100 NE +100 --100 b. NE +25 --25 +75 +100 --25 NE +75 C. --75 +25 +100 --75 NE NE NE NE d. NE NE +100 NE NE NE NE e. +100 Match the effect that the transaction below has on a company's Income Statement and Balance Sheet. Choose (a), (b), (c), (d), or (e) from the grid above. For example, if the transaction is "Collected cash on accounts receivable," the correct answer is (d) because there is no effect on revenue, expense, net income, overall assets, liabilities, or equity. Transaction: Made a major improvement to the heating and air conditioning system that cost $75, and repainted the building at a cost of $25. The total cost of $100 was put on account. Ignore any depreciation. a --25 NE +75 --75 *100 +75 C. +100 -25 --75 +25 +100 d. NE NE NE NE NE NE e. NE NE NE +100 +100 NE Match the effect that the transaction below has on a company's Income Statement and Balance Sheet. Choose (a), (b), (c), (d), or (e) from the grid above. For example, if the transaction is "Collected cash on accounts receivable," the correct answer is (d) because there is no effect on revenue, expense, net income, overall assets, liabilities, or equity. Transaction: Made a major improvement to the heating and air conditioning system that cost $75, and repainted the building at a cost of $25. The total cost of $100 was put on account. Ignore any depreciation. a. O b. Oc. O d. Oe 4.4 pts