1 Below is a list of activities for Purple Cow Incorporated. Required: For each activity, indicate the impact on the accounting equation. After doing so for all transactions, ensure that the accounting equation remains in balance. The first item is provided as an example. (Decreases to account classifications should be entered as a negative.) 10 points Assets eBook Liabilities $ 0 Stockholders' Equity $ 1,630 $ 1,630 Transaction 1. Provide services to customers on account, $1,630, 2. Pay $370 for current month's rent. 3. Hire a new employee, who will be paid $530 at the end of each month. 4. Pay $120 for advertising aired in the current period 5. Purchase office supplies for $370 cash. Print References 6. Receive cash of $1,030 from customers in (1) above. $ 1,030 7.300 $ $ 520 $ 7. Obtain a loan from the bank for $7,300. 8. Receive a bill of $520 for utlity costs in the current period 9. Issue common stock for $10,300 cash 10. Pay $530 to employee in (3) above. Totals 10,300