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Investors buy shares in Quietus Ltd. for $5 million. On Day One of the company's operations, $3 million is spent on assets and $4 million

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Investors buy shares in Quietus Ltd. for $5 million. On Day One of the company's operations, $3 million is spent on assets and $4 million is borrowed from the Bank. By the end of the first month Quietus has also bought $10 million of goods for resale on credit and made sales of $25 million on credit. There is no inventory left. Ignore all other transactions and expenses. The accounting equation at that point in time will show Select one: O a. assets: $34 million; liabilities: $14 million; equity: $20 million O b. assets: $9 million; liabilities: $14 million; equity: $5 million O c.assets: $19 million; liabilities: $4 million; equity: $15 million O d. assets: $34 million; liabilities: $29 million; equity: $5 million

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