Following are transactions of Gotebo Tanners, Inc., a new company, during the month of January:

Issued 10,000 shares of common stock for $15,000 cash.

Purchased land for $12,000, signing a note payable for the full amount.

Purchased office equipment for $1,200 cash.

Received cash of $14,000 for services provided to customers during the month.

Purchased $300 of office supplies on account.

Paid employees $10,000 for their first month's salaries.

How many of these transactions increased Gotebo's liabilities?

A) Four.

B) Three.

C) Two.

D) One.

Answer: C