increases 11. Consider the following balance sheet: Cash $70,000 Accounts receivable $30,000 Inventories $50,000 Net fixed assets $350,000 Total assets $500,000 Accounts payable $30,000 Long-term debt $20,000 Common stock $200,000 Retained earnings $250,000 Total liabilities and equity $500,000 Assume that the business uses $30,000 of its cash to pay salaries. Which of the following statements reflects the resulting balance sheet change? a. There is a change to the left-hand side only. b. There is a change to the right-hand side only. C. The cash account decreases by $30,000, and the retained earnings account is reduced by $30,000. d. The cash account decreases by $30,000, and the long-term debt account is reduced by $30,000. e. The company does not have the ability to pay $30,000 in salaries. ned fororofit) businesses