Badger World Wide, Incorporated, manufactures military, work, sport, and casual footwear and leather accessories under a variety of brand names, such as Moth, Lovlies, Walkers, and Bill Ladde. The following transactions occurred during a recent month. a. Made cash sales of $54,200 (example). b. Purchased $3,550 of additional supplies on account. c. Borrowed $70,800 on long-term notes. d. Purchased $23,700 in additional equipment, paying in cash. e. Incurred $33,300 in selling expenses, paying two-thirds in cash and owing the rest on account. f. Paid $4,950 in rent for this month, and also paid $4,950 for next month. Required: 1. For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (+ for increase and - for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example. 2. Determine the company's preliminary net income