A customer returned merchandise to Eighth Street Company for credit. The merchandise had been sold on credit for $$100$ and cost $$60.$ Which of the following is true about the net impact on Eighth Street$$s financial statements?

A$)$ Total Stockholders$$ Equity will decrease by $$100.$

B$)$ Total Assets will increase by $$60.$

C$)$ Total Assets will decrease by $$100.$

D$)$ Total Assets will decrease by $$40.$