8 [50 points] Gulf Corp began operations on March 1, 2014. The transactions for the first month follow a Gulf Corp. issued shares to shareholders for $80,000 b. A client rented equipment for $900 cash c Performed consulting services today and collected $800 d. Gulf Corp, collected $5,500 for commissions earned today e. A client rented equipment for $1,800 cash f Gulf Corp. received this month's utilities bill today and paid it immediately $200 g. The $1,750 bill for the advertising campaign that ran last week was received today It will be paid within 30 days h. Office salaries for the month were paid today: $2,750. Gulf Corp. will pay the $1,500 advertising bill received today within 30 days j. Gulf Corp paid dividends of $1,300 to the shareholders Fill out the following table, according to the transactions above. Select the headings for each column by clicking on the appropriate cell. Use addtions and subtractions to show the transactions' effects on the elements of the equation. Show new totals after each transaction. Also indicate next to each change in the equity (in the explanation column) whether it was caused by issuance of share capital (investment), a revenue, an expense or payment of dividends. Identify revenues and expenses by name. In addition to this, prepare an income statement, a statement of changes in equity and a balance sheet for the month ended March 31 a) Complete the following accounting equation table Assets -Liabilities Equity Share Capital Retained Earnings Explanation (a) (b) Bal in)