During 2012, Newberry Company entered into the following transactions.1. Purchased equipment for $286,176 cash.2. Issued common stock to investors for $137,590 cash.3. Purchased inventory of $68,480 on account.Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders?? Equity in the right-hand margin. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. Use Illustration 3-3 (page 110) as amodel.

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Assets = Liabilities + Stockholders' Equity Common Stock Retained + Earnings Accounts Payable + Cash + Inventory + Equipment