1. What is the transaction when a company purchases supplies on account (what accounts increase or decrease?) Assets = Liabilities + Stockholders' Equity 2. Assets had a beginning balance of $30,000. Liabilities had a beginning balance of $15,000. If Assets decreased by $3,000 and Liabilities increased by $2,000, what is the ending balance in Stockholders' Equity? 3. If beginning retained earnings were $10,000 and there were expenses of $320,000, dividends of $14,000, and ending retained earnings of $6,000, how much were revenues? Hint: Use the Statement of Retained Earnings formula to calculate