Sales revenue and Cost of goods sold for the year ended December 31, 2020 were $250,000 and $200,000, respectively.

Sales revenue and Cost of goods sold for the year ended December 31, 2019 were $180,000 and $90,000, respectively.

Net income was $50,000 and $25,000 for the years ended December 31, 2020 and 2019, respectively.

The balance sheet at December 31, 2020 had assets of $250,000 and liabilities of $50,000

3. List two balance sheet accounts you would expect to be affected by the increase in sales and whether the effect is an increase or decrease and why. (4 points)