Assume that all expenses for the year were $10,000 and all revenues for the year were $5,000. What effect does this have on the balance sheet? Assume that dividends = 0. All else is constant.

a. it has no effect on the balance sheet

b. it increases owner's equity on the balance sheet

c. it decreases owner's equity on the balance sheet

d. it decreases the market value of the assets on the balance sheet

e. it increases the market value of the assets on the balance sheet