Decreased by the mortgage payment

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Reference no: EM13865056

On January 1, 2012, Chan Enterprises borrowed $100,000 from a bank on a three-year mortgage with an interest rate of 5% per year. On December 30, 2012, Chan paid the bank $36,721. Chan uses US GAAP to prepare its financial statements.

Which of the following items would be decreased by the mortgage payment? (check all that apply)

Net Income

Total Assets

Total Shareholders’ Equity

Accumulated Other Comprehensive Income

Cash from Financing Activities

Reference no: EM13865056

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