A. J. Donald Company started business on January 1, 2024, and the following transactions occurred in its first year: 1.On January 1, the company issued 12,800 common shares at $25 per share. 2.On January 1, the company purchased land and a building from another company in exchange for $84,000 cash and 6,000 shares. The land's value is approximately one-quarter of the total value of the transaction. (Hint: You need to determine a valug for the shares using the information given in transaction 1, and the land and building should be recorded in separate accounts.) 3.On March 31, the company rented out a portion of its building to Frantek Company. Frantek is required to make quarterly payments of $9,100 on March 31, June 30, September 30, and December 31 of each year. The first payment, covering the period from April 1 to June 30, was received on March 31, and the other payments were all received as scheduled. 4.Equipment worth $123.000 was purchased on July 1, in exchange for $61,500 cash and a one-year note with a principal amount of $61.500 and an interest rate of 10%. No principal or interest payments were made during the year. 5.Inventory costing $258,000 was purchased on account. 6.Sales were $353,500, of which credit sales were $303.500. 7.The inventory sold had a cost of $187,000. 8.Payments to suppliers totalled $206,500. 9.Accounts receivable totalling $208,000 were collected. 10.Operating expenses amounted to $52,500, all of which were paid in cash. 11. The building purchased in transaction 2 is depreciated using the straight-line method, with an estimated useful life of 20 years and an estimated residual value of $32.000. 12. The equipment purchased in transaction 4 is depreciated using the straight-line method, with an estimated useful life of 10 years and an estimated residual value of $6,900. Because the equipment was purchased on July 1, only a half year of depreciation is recognized in 2024. 13. Dividends of $20,800 were declared during the year, of which $6,700 remained unpaid at year end. 14. Interest expense on the note payable from transaction 4 was recorded.

Show the effects of the transactions on the basic accounting equation. (Hint: For item 3, record the four quarterly collections of rent as one transaction) (Enter amounts that decrease account balance using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Indicate whether it is Revenues, Expenses or Dividends declared in the last column. In case if there is no effect then select "Not Applicable".)