Im only searching for this question "which of the following statements is true" I have done the rest of the problem.

Which of the following statement(s) is/are true?

Revenues decreased Rudy Gandolfis equity, and expenses and dividends increased it.checkbox unchecked1 of 5 Interest is a "cost" of doing business.checkbox unchecked2 of 5 Dividend is a "cost" of doing business.checkbox unchecked3 of 5 Cash balance will be affected while paying off an accounts payable and collecting an accounts receivable.checkbox unchecked4 of 5 When money is borrowed from the bank, the total assets and the total liabilities will increase.

Rudy Gandolfi owns and operates Rudys Furniture Emporium Inc. The balance sheet totals for assets, liabilities, and stockholders equity at August 1, 2019, are as indicated. Described here are several transactions entered into by the company throughout the month of August. Required: Indicate the amount and effect of each transaction on total assets, total liabilities, and total stockholders' equity, and then compute the new totals for each category. The first transaction is provided as an illustration. Indicate the financial statement effect. How much were total revenues and total expenses during August? What was the amount of net income (or loss) during August? What were the net changes during the month of August in total assets, total liabilities, and total stockholders' equity? Which of the following statement(s) is/are true?

a.									Assets	=	Liabilities	+	Stockholder's equity
	August 1,2019 total								700000		500000		200000
	August 3, borrowed $ 50000 in cash from the bank								50000		50000		0
	New totals								750000		550000		200000
	August 7,brought merchandise inventory valued at $ 75000 on account								75000		75000		0
	New totals								825000		625000		200000
	August 10,paid $25000 cash for operating expenses								-25000		0		-25000
	New totals								800000		625000		175000
	August 14,received $120000 in cash from sales of merchandise that had cost $ 72000
	Effect of sales revenue								120000		0		120000
	Effect of cost of goods sold								-72000		0		-72000
	New totals								848000		625000		223000
	August 17,paid $ 60000 owed on accounts payable								-60000		-60000		0
	New totals								788000		565000		223000
	August 21,collected $ 44000 of accounts receivable								44000		0		0
									-44000		0		0
	New totals								788000		565000		223000
	August 24,repaid $ 30000 to the bank plus $ 1000 interest								-31000		-30000		-1000
	New totals								757000		535000		222000
	August 29,Paid Rudy Gandolfi a cash dividend of $ 15000								-15000		0		-15000
	August 31,2019 totals								742000		535000		207000
b.	Total revenue:
	Date	Description				$
	Aug 14.	Sale of merchandise				120000
	Total					120000
	Total expenses:
	Date	Description				$
	Aug 10.	Operating expenses				25000
	Aug 14.	Cost of goods sold				72000
	Aug 24.	Interest expenses				1000
	Total					98000
	Net income=Total revenue-Total expenses=120000-98000=$ 22000
c.	Net changes=August 31,2019 totals-August 1,2019 totals
	Total assets,
	Net changes=742000-700000=$ 42000
	Total liabilities,
	Net changes=535000-500000=$ 35000
	Total stockholder's equity,
	Net changes=207000-200000=$ 7000