X Co recorded journal entries for the issuance of ordinary shares for $50,000, the payment of $13,000 on accounts payable, and the payment of salaries and wages expense of $21,000. What net effect do these entries have on equity? Select one: a. Increase of $29,000 b. Increase of $16,000 C. Increase of $50,000 d. Increase of $37,000