Cathy Company operates a cleaning service. The grid below is a list of possible effects on the Income Statement and the Balance Sheet. The code is: += increase; --= decrease; NE = no effect. Revenue Expense Net Income Assets Liabilities Equity 1. +1,000 NE +1,000 +1,000 NE +1,000 II. +5,000 NE +5,000 +5,000 NE +5,000 III. NE NE NE -5,000 -5,000 NE IV. NE NE NE +1,000 +1,000 NE V. NE NE NE NE NE NE Match the effect that the transaction below would have on Cathy Company's Income Statement and Balance Sheet. Choose (I), (II), (III), (IV), or (V) from the grid. For example, if the transaction were "Paid $5,000 due on accounts payable," the correct answer would be (III) because there is no effect on revenue, expense, and net income; a $5,000 decrease in assets and liabilities; and no effect on equity. Transaction: The Company received $5,000 cash from customers - $4,000 of the cash received were from customers who were billed in a prior period for services provided to them, while $1,000 of the cash received were from customers paying in advance for cleaning services to be provided in the next period. (Assume that the appropriate adjusting entry was made at the end of the prior period for the $4,000 billing of customers). m ON