Analyzing Transactions Using the Financial Statement Effects Template Record the effect of each of the following independent transactions using the financial statements effects template provided. Confirm that Assets = Liabilities + Equity for each transaction. Note: Use a negative sign with your answers, when appropriate. Balance Sheet Income Statement Transaction (1) Receive 50,000 inexchange for commonstock. (2) Borrow 10,000 frombank. (3) Purchase 2,000 of supplies inventory on credit. (4) Receive 15,000 cash from customers for services provided. (5) Pay 2,000 cash to supplier in transaction 3. (6) Receive order for future services with 3,500 advance payment. (7) Pay 5,000 cash dividend to shareholders. (8) Pay employees 6,000 cash for compensation earned. Cash Asset + Noncash Assets Contributed Earned = Liabilities + Capital + Capital Revenue 0+ 0 = 0+ 0+ 0 0 Expenses = 0 = Net Income 0 + 0 = 0+ 0 + 0 0 0 = 0 0 + 0 = 0 + 0 + 0 0 0 = 0 0 + 0 = 0+ 0 + 0 0 0 = 0 0+ 0 = 0+ 0 + 0 0 0 = 0 0 + 0 = 0+ 0 + 0 0 0 0 0 + 0 = 0 + 0 + 0 0 0 = 0 0 + 0 0+ 0 + 0 0 0 = 0 (9) Pay 500 cash for interest on loan in transaction 2. 0+ 0 = 0 + 0 + 0 0 0 = 0 Totals $ 0 + $ 0 || = $ 0 + $ 0+ $ 0 $ 0 $ 0 = $ 0