Assets 3. 4. 5. 6. 7. 8. 9. 10. 11. $ Elizabeth Repair Inc. was started on May 1. A summary of May transactions is presented below. 1. Stockholders invested $8,800 cash in the business in exchange for common stock. 2. Purchased equipment for $4,400 cash. 3. Paid $352 cash for May office rent. 4. Paid $264 cash for supplies. 5. Incurred $220 of advertising costs in the Beacon News on account. 6. Performed repair services for customer for $4,136 cash. 7. Paid a $616 cash dividend. 8. Paid part-time employee salaries $880. 9. Paid utility bills $124. 10. Performed repair services worth $968 on account. 11. Collected cash of $104 for services billed in transaction (10). (a) Prepare a tabular analysis of the transactions. Include margin explanations for any changes in revenues or expenses. Revenue is called Service Revenue. - Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. - Increases in expenses require a negative sign or parentheses. Stockholders' Equity Retained Earnings