Ben Stone decided to start his own business selling magazines. He contributed a building as an initial investment to start his company. The building is valued at $550,000 and comes with an attached mortgage payable of $200,000. What is the effect of this transaction on the accounting equation?

Select one:

a. Decrease Stockholder's Equity by $350,000

b. Increase Assets by $350,000

c. Increase Stockholder's Equity by $350,000

d. Increase Stockholder's Equity by $550,000