24 Chubby Company paid canh to purchase equipment on January 1 Year 1. Select the answer that shows how the recognition of depreciation expense in Year 2 would affect assets, labilities, equity, net income, and cash flows Balance Sheet Income Statement Stockholders Assets = Liabilities + Statement of Cash Equity Revenue Expenses - Net Income Flows A. NA NA NA NA + NA OA C. NA NA -OA NA NA NA B. D. Multiple Choice Option A Out Ootion Option