Below is a list of activities for Purple Cow Incorporated. Required: For each activity, indicate the impact on the accounting equation. After doing so for all transactions, ensure that the accounting equation remains in balance. The first item is provided as an example. (Decreases to account classifications should be entered as a negative.) Assets Llabilities 0 0 Transaction 1. Provide services to customers on account, $1,770. 2. Pay $280 for current month's rent. 3. Hire a new employee, who will be paid $670 at the end of each month. 4. Pay $120 for advertising aired in the current period. 5. Purchase office supplies for $280 cash. $ $ $ $ $ 1,770 (280) 0 (120) (280) $ $ $ $ $ Stockholders Equity $ 1,770 $ (280) $ 0 $ (120) $ 0 0 0 0 TILL 6. Receive cash of $1,170 from customers in (1) above. $ 1,170 $ 0 0 1. $ 8,700 7. Obtain a loan from the bank for $8.700. 8. Receive a bill of $430 for utility costs in the current period 9. Issue common stock for $11,700 cash 10. Pay $670 to employee in (3) above. Totals $ $ $ $ $ $ $ $ 11,700 (670) 22.660 8,700 340 0 0 9,040 $ $ $ $ $ 1. (340) 11,700 (670) 13,160 al