A company purchases $25,000 of inventory in November 20X6, pays for it in December 20X6 and sells them in March 20X7. The accounting period ends on December 31st Which of the following statements is correct? Multiple Choice The 2016 samoment of Retained Earnings will not be affected by this transaction None of the other aneratives are correct The 2001 income statement will report the $26.000.cont of goods sou The company will report accounts payable of $25.000 20x6 Balance Sheet The statement of cash flows for 20 win operating catholow of $25.000