Bledsoe Company acquired $25,000 cash by issuing common stock on January 1, Year 1. During Year 1, Bledsoe earned $9500 of revenue on account. The company collected $8000 cash from customers in partial settlement of its accounts receivable and paid $6400 cash for operating expenses. Based on this information alone, what was the impact on total assets during Year 1?
A. Total assets increased by $28,100.
B. Total assets increased by $1600.
C. Total assets increased by $36,100.
D. Total assets did not change.
Answer: A
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