Assume Down, Incorporated, was organized on May 1 to compete with Despair, Incorporated-a company that sells de motivational posters and office products. Down, Incorporated, encountered the following events during its first month of operations a. Received $39,000 cash from the investors who organized Down, Incorporated b. Borrowed $18,000 cash and signed a note due in two years. c. Ordered equipment costing $21,000. d. Purchased $9,000 in equipment paying $3,000 in cash and signing a six-month note for the balance. e. Received the equipment ordered in (c. pald for half of it, and put the rest on account. Required: 1. Summarize the financial effects of items (a)-le) in a table. (Enter any decreases to account balances with a minus sign.) Assets Cash Stockholders Equity Common Stock Equipment Liabilities Short-term Notes Payable 0 Accounts Payable Long-term Notes Payable 0+ Beginning 0 0 0 + b. C d 0 Ending