1) A bill is received for electric service; the charge for the electricity is recorded, but payment will be made later. For this transaction, identify the effect on the accounting equation. a Liabilities decrease and assets decrease. b. Assets, increase and liabilities increase. Subiabilities increase and stockholders' equity decreases. d.Assets, increase and stockholders' equity increases./ 2)Which one of the following subtotals or totals would appear in a multiple-step, but not a single-step, income statement? a Income from operations b.Cost of goods sold SuIncome tax expense d.Net income