A company received cash totaling $74,000. Of this amount $44,400 was for services provided during the current period and $29,600 is for services to be provided in the future. What is the net impact of this transaction on net income, assets, and liabilities in the current period? Net income increases by $44,400; Assets increase by $44,400; Liabilities increase by $29,600 Net income increases by $74,000; Assets increase by $44,400; Liabilities are unaffected Net income increases by $74,000; Assets increase by $74,000; Liabilities are unaffected