During 2020, Millstone Company earned $6,500 of cash revenue, paid cash dividends of $1,000 to owners and paid $4,000 for cash expenses. Liabilities were unchanged. Which of the following accurately describes the effect of these events on the elements of the company's financial statements? A) Assets increased by $1,500 B) Equity increased by $2,500 C) Assets increased by $5,500 D) Assets increased by $6,500