Business transactions effects on shareholders' equity. For each of the transactions given next, tell whether it (1) increases, (2) decreases, or (3) has no effect on shareholders' equity. Consider both shareholders' equity components-contributed capital and retained earnings. (LO 4)

a. Two friends get together, each contributing \(\$ 23,250\) to start the Spotless Cleaning Corporation in exchange for common stock.

b. Spotless Cleaning purchases a company van for \(\$ 30,000\) cash.

c. Spotless Cleaning purchases \(\$ 2,250\) worth of inventory for cash.

d. Spotless Cleaning pays expenses of \(\$ 2,150\) for gas and auto insurance.

e. Spotless Cleaning earns service revenue from customers of \(\$ 8,150\) during the month and received payment in cash.

f. Spotless Cleaning pays employees \(\$ 465\) for hours worked during the month.

g. Spotless Cleaning declares and distributes \(\$ 360\) dividends to each of its owners at the end of the month.