Mime Delivery Service is owned and operated by Pamela Kolp. The following selected trans- actions were completed by Mime Delivery Service during October: 1. Received cash in exchange for capital stock, $7,500. 2. Paid creditors on account, $815. 3. Billed customers for delivery services on account, $3,250. 4. Received cash from customers on account, $1,150. 5. Paid dividends, $500. Indicate the effect of each transaction on the accounting equation elements (Assets, Liabil- ities, Stockholders' Equity, Dividends, Revenue, and Expense) by listing the numbers iden- tifying the transactions, (1) through (5). Also, indicate the specific item within the accounting equation element that is affected. To illustrate, the answer to (1) is shown below. (1) Asset (Cash) increases by $7,500; Stockholders' Equity (Capital Stock) increases by $7,500.