Analyze the following transactions and show their effects on the basic accounting equation:a$.$ Issued common shares in exchange for $$9,600$ cash.b$.$ Bought inventory costing $$2\mathrm{.}200,$ on account.c$.$ Paid $$990$ of taxes that were owed from the previous period.d$.$ Borrowed $$10,120$ from the bank. The interest on the loan is $12\%$ per year.e$.$ Paid $$450$ for supplies to be used in the future.f$.$ Declared and paid dividends of $$960.$g$\mathrm{.}1)$ Sold goods on account for $$4,990.2)$ The products sold had a cost of $$1,996.$