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Mika Corporation purchased a truck for $10,000 cash. Which of the following statements regarding this purchase is incorrect? - The net income for Mika will

Mika Corporation purchased a truck for $10,000 cash. Which of the following statements regarding this purchase is incorrect?

- The net income for Mika will be reduced by the $10,000 expense of the truck

- the total amount of assets on Mika's balance sheet will not change

-The amount of the stockholders' equity on Mika's balance sheet will not change

-All of these statements are correct.

-The total liabilities will not change.

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