Bates Company paid $1,600 cash for the right to use office space during the coming year. Which of the following shows how this event would affect Bates' balance sheet? Balance Sheet Assets = Liabilities + Stockholders' Equity Cash Prepaid Rent Accounts Payable Common Stock Retained Earnings A. 1,600 1,600 B. (1,600) 1,600 C. 1,600 1,600 D. (1,600) (1,600) Multiple Choice Option A Option B Option C Option D