Use this information to answer the following question. Here is the balance sheet for Costello Container Company: Costello Container Company Balance Sheet December 31, 2014 Assets Liabilities Cash $ 8,000 Accounts payable $16,000 Accounts receivable 3,000 Land 14,000 Owner's Equity Building 44,000 Jose Costello, capital 66,000 Equipment 13,000 Total liabilities and Total assets $82,000 owner's equity $82,000 If the balance in the Cash account were used to pay part of Accounts Payable, then total liabilities and owner's equity would a. decrease by $8,000. b. increase by $8,000. c. increase by $16,000. d. decrease by $16,000.