Apple Company started the first year of operations with $2, 500 in cash and common stock. During 2010, the Apple Company earned $5,000 of revenue on account. The company collected $3.800 cash from accounts receivable and paid $2450 cash for operating expenses. Enter the transactions into the accounting equation 1. What happened to total assets (increase or decrease and by how much)? 2. What is the cash balance on December 31, 2010? 3. What is the total shareholder's equity on December 31, 2010? 4. What is net income for the year? Enter the transactions into the accounting equation. Begin by entering the begin balances. Then, enter each transaction in the order they occurred. (Use parentheses or a minus sign when entering account decreases. Use only the necessary input lines.) 1. What happened to total assets (increase or decrease and by how much)? The total assets by $ 2. What is the cash balance on December 31, 2010? The cash balance on December 31, 2010 is $ 3. What is the total shareholder's equity on December 31, 2010? The total shareholder's equity on December 31, 2010 is $ 4. What is net income for the year? The net income for the year is $