Christopher Thompson started a new business, Thompson Gymnastics, and completed the following transactions during December: (Click the icon to view the transactions.)Dec. 1 Received $21,000 cash from Christopher in exchange for common stock. Dec. 2 Received $3,200 cash from customers for services performed. Dec. 5 Paid $600 cash for office supplies. Dec. 9 Performed services for a customer and billed the customer for services rendered, $3,500. Dec. 10 Received $600 invoice for utilities due in two weeks. Dec. 15 Paid for advertising in the local paper, $400. Dec. 20 Paid utility invoice received on December 10. Dec. 25 Collected cash in full from customer billed on December 9. Dec. 28 Paid rent for the month, $1,200. Dec. 28 Paid $1,350 to assistant for wages. Dec. 30 Received $2,200 cash from customers for services performed. Dec. 31 Cash dividends of $4,500 were paid to stockholders. Analyze the effects of the transactions on the accounting equation of Thompson Gymnastics. Use the following accounts: Cash, Accounts Receivable, Office Supplies, Accounts Payable, Common Stock, Dividends, Service Revenue, Rent Expense, Utilities Expense, Wages Expense, and Advertising Expense. Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 1st. For each transaction that follows the transaction on the 1st, calculate the balance in each account after analyzing its effect on the accounting equation.