Revenue/Gain Expense/Loss Net Income 1. NE +13,000 --13,000 11. NE +10,000 --10,000 NE +3,000 --3,000 IV. NE V. NE NE NE NE NE Assets NE +3,000 +10,000 NE +13,000 Liabilities Equity +13,000 --13,000 +13,000 --10,000 +13,000 --3,000 NE NE +13,000 NE Match the effect that the transaction below would have on Cathy Company's Income Statement and Balance Sheet. Choose (I), (II), (III), (IV), or (V) from the grid. For example, if the transaction were "Collected cash on accounts receivable," the correct answer would be (IV) because there is no effect on revenue, expense, net income, overall assets, liabilities, or equity. Transaction: Cathy modified their current air conditioner to make it more powerful and more environmentally friendly at a cost of $10,000. In addition, they repainted the entire building at a cost of $3,000. The total cost of $13,000 was put on account. Ignore any depreciation. SO IV OV