A company purchased equipment worth $74,000. The company paid $22,200 in cash and signed a $51,800 note payable. What is the net impact of this transaction on assets, liabilities, and net income in the current period? Multiple Choice Assets increase by $51,800; Liabilities increase by $51,800; Net income is unaffected $(0) Assets increase by $74,000; Liabilities Increase by $74,000; Net income increases by $74,000 Assets increase by $51,800; Liabilities increase by $51,800. Net income increases by $51,800 Assets increase by $74,000; Liabilities increase by $74,000; Net income is unaffected $(0)