Accessibility tab summary: The financial information for Spensa Corporation is presented in rows $2$ to $13.$ A statement for requirement is presented in rows $16$ and $17$ and tip is presented in row $19.$ The tables for student preparation are presented in cells A$21$ to F$33$ and cells A$35$ to D$36.$

Spensa Corporation was established this year and had the following transactions:

a$.$ Issued common stock to investors $($example$)$ Value: $ $90,000$

b$.$ Purchased Inventory on account Value: $ $23,000$

c$.$ Borrowed cash from a local bank Value: $ $15,000$

d$.$ Sold merchandise to customers. Gross Profit on sale is $57\mathrm{.}6\%$ Sales amount: $ $12,50057\mathrm{.}6\%$

e$.$ Dividends were paid to common shareholders Dividends: $ $1,000$

f$.$ Purchased Land for cash Value: $ $11,000$

g$.$ Incurred selling expenses paying one fourth in cash and putting the remainder on account Amount: $ $4,000$

h$.$ Paid off the local bank loan and also paid $10\%$ in interest Loan: $ $5,00010\%$

i$.$ Earned interest from the savings account at the local bank Amount: $ $500$

j$.$ Collected amounts owed from customers Amount: $ $2,000$

Required

Complete the table in the spreadsheet for each transaction showing the effect on the balance sheet and income statement. Leave unaffected cells blank and use positive and negative numbers for increases and decreases. Be sure to enter a formula to calculate column totals, the accounting equation, and net income.