During 2011, CliffCo Inc. incurred operating expenses of \(\$ 200,000\), of which \(\$ 150,000\) was paid in cash; the balance will be paid in January 2012. Transaction analysis of operating expenses for 2011 should reflect only the following:

a. Decrease stockholders' equity, \(\$ 150,000 ;\) decrease assets, \(\$ 150,000\).

b. Decrease assets, \(\$ 200,000\); decrease stockholders' equity, \(\$ 200,000\).

c. Decrease stockholders' equity, \(\$ 200,000\); decrease assets, \(\$ 150,000\); increase liabilities, \(\$ 50,000\).

d. Decrease assets, \(\$ 200,000\); increase liabilities, \(\$ 50,000\); decrease stockholders' equity, \(\$ 150,000\).

e. None of the above is correct.