1 111 com Badger World Wide, Incorporated, manufactures military, work, sport, and casual footwear and leather accessories under a variety of brand names, such as Moth, Loviles, Walkers, and Bil Ledde. The following transactions occurred during a recent month. a. Made cash sales of $56,000 (example). b. Purchased $3,700 of additional supplies on account. c. Borrowed $67600 on long-term notes d. Purchased $25,500 in additional equipment, paying in cash e Incurred $31,200 in seting expenses, paying two-thirds in cash and owing the rest on account Paid $9,600 in rent for this month, and also paid $9,600 for next month 110 Required: 1. For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect - for increase and-for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders equity, as shown for the first transaction, which is provided as an example 2. Determine the company's preliminary net income Complete this question by entering your answers in the tabs below. Required 1 Required 2 For each of the transections, complete the following table, indicating the accourt, amount, and direction of the effect (+ for increase and-for decrease) of each transaction under the accrual basis. Indude revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example. (Enter ane decreases to Assets, Liabilities, and Stockhorders Equity with a minus sign) Transaction Assets Blackhalte Equity Cash 06,000- Sales Revenue 55.000 3,700 Accounts Payable 3,700 4 a . a B t