For the current year, Jupiter, Inc. recorded: - Revenue of $500, of which $120 was received in cash (remainder on credit). - Expenses of $300, of which $180 was paid in cash (remainder on account). What effect did these transactions have on: I. Total Assets and II. Total Shareholders' Equity? A) Decrease I by $320; Increase II by $200. B) Increase I by $200; Increase II by $200. C) Increase I by $320; Increase II by $200. D) Increase I by $320; Increase II by $120. E) None of the above