$-$

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. Balance Sheet Transaction (1) Receive 12,500 in exchange for commonstock. (2) Borrow 2,500 from bank. (3) Purchase 500 of supplies inventory on credit. (4) Pay 500 cash to supplier in transaction 3. Totals Income Statement Expenses = Net Income = Cash Asset + Noncash Assets = Liabilities + Contributed Capital + Earned Capital Revenue - = = = -