Check my work 1 The following transactions occurred during March 2018 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 2 points 80202,42 1. Issued 50,000 shares of common stock in exchange for $500,000 in cash. 2. Purchased equipment at a cost of $80,000 $20,000 cash was paid and a note payable was signed for the balance owed 3. Purchased inventory on account at a cost of $152,000. The company uses the perpetual inventory system 4. Credit sales for the month totaled $220,000. The cost of the goods sold was $132.000, 5. Pald $6.750 in rent on the warehouse building for the month of March 6. Pald $7.300 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2018, 7. Pald $132.000 on account for the merchandise purchased in 3. 8. Collected $99,000 from customers on account 9. Recorded depreciation expense of $2,000 for the month on the equipment Door References Required: Analyze each transaction and show the effect of each on the accounting equation for a corporation (Amounts to be deducted should be indicated by a minus sign. Enter the net change on the accounting equation) Assets Liabilities Paid in Capital + Retained Earnings 1 2