6. Assume that r@ktas Inc., sold inventory on account for $2,000. How would this transaction affect r@ktas' accounting equation? a. Increase both assets and liabilities by $2,000. b. Increase both assets and shareholders' equity by $2,000. c. Increase both liabilities and shareholders' equity by $ 2,000. d. Increase shareholders' equity $ 72,000. 7. Which of the following accounts is an liability? a. Bank deposit b. Prepaid insurance expense c. Account payable d. Short term investment 8. Suppose r@ktas has receivables of $65,000, furniture totaling $205,000, and cash of $52,000. The business has a $109,000 account payable and owes $81,000 on account. How much is r@ktas' stockholders' equity? a. $28,000 b. $332,000 c. $190,000 d. $132,000 9. Which financial statement is a snapshot of the financial position of a company at a specific point in time? a. Income statement c. Statement of cash flow b. Balance sheet d. Statement of changes in shareholders' equity