Chubb Company paid cash to purchase equipment on January 1, Year 1. Select the answer that shows how the recognition of depreciation expense in Year 2 would affect assets. liabilities, equity, net income, and cash flows. Balance Sheet Income Statement Stockholders' Statement of Cash Assets Liabilities + Equity Revenue - Expenses Net Income Flows A. + NA + NA + NA B. - NA + NA +0A C. D. NA NA NA NA + -OA NA Multiple Choice Option C Option B Option A Option D