On January 1, Year 1, Echols Company borrowed $100,000 cash from Sun Bank by issuing a 5-year, 8% term note. The principal and interest are repaid by making annual payments beginning on December 31, Year 1. The annual payment on the loan equals $25,045.65. Which of the following shows how the borrowing of cash from Sun Bank on January 1, Year 1, affects the elements of the financial statements? Balance Sheet Income Statement Stockholders' Assets = Liabilities + Equity Revenue Expenses A. + NA NA NA B. NA NA NA NA + Statemen Net Income NA Cash Fl +IA -IA C. - + NA NA + - -FA D. + + NA NA NA NA +FA Multiple Choice Option A Option B Option C Option D