Which of the following statements is correct? Assets are generally reported at historical costs. Companies are required to record revenue when cash is received, according to the revenue recognition principal When shareholders contribute capital to a company, earned capital increases because the company has earned the shareholders' investments. > Question 9 4 How would a sale of $450 of inventory on credit affect the balance sheet if the cost of the inventory sold was $150? (Select all that apply) It would increase noncash assets by $450 and increase equity by $450 It would decrease noncash assets by $150 and decrease equity by $150 It would increase cash by $450 and increase equity by $450