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During 2021, a company incurred operating expenses amounting to $100,000, of which $75,000 was paid in cash; the balance will be paid during 2022 . Which of the following is correct for the 2021 year-end balance sheet? Stockholders' equity decreases $75,000 and assets decrease $75,000. Assets decrease $100,000, liabilities increase $25,000, and stockholders' equity decreases $100,000. Assets decrease $100,000 and stockholders' equity decreases $100,000. Stockholders' equity decreases $100,000, assets decrease $75,000, and liabilities increase $25,000. Net income will decrease by $100,000; retained earnings will decrease by $75,000; cash will decrease by $75,000. Question 20 A company purchased a piece of equipment costing $125,000 and is depreciating it assuming a 10 -year life. The residual value was originally expected to be $10,000. At the end of the fifth year, the motor was replaced (a major overhaul) at a cost of $40,000. The overhaul increased the efficiency of the equipment. How much is depreciation expense in the sixth year assuming straight-line depreciation, no change in estimated useful life and no change in residual value? 19,500 21,500 None of the above. 18,500 11,500