BE1.6 (LO4), C The following are three business transactions. Create a table with rows (a), (b), and (c), and columns for assets, liabilities, and stockholders' equity. For each column, indicate whether the transactions increased (+), decreased (-), or had no effect (NE) on assets, liabilities, and stockholders' equity. a. Purchased supplies on account. b. Received cash for performing a service. c. Paid expenses in cash. Determine effect of transactions on accounting equation