A firm enters into a purchase commitment in July 2023. The firm agrees to buy 100 units for a total of $12,000. At year-end (December 31), the firm performs all required adjusting entries. On December 31 , the unit price had decreased such that the total inventory purchase had a market price of $11,000. On March 15 , the firm took delivery of inventory and pays cash. On that date, the market price of inventory was $10,500. Which of the following components of the accounting equation decrease when the entry on 3/15 is posted? 1. Assets II. Liabilities III. Stockholders' Equity