Consider the following transactions : 1. Gray and a few friends invest $70,000 to begin Genie Trading Inc. and the business issues common stock to the stockholders. 2. Genie took bank loan amounting to $ 70000 @ 3% p.a. 3. Genie purchases furniture and equipment for a new location and pays cash of $20,000. 4. Genie purchases goods for $ 80000 and paid cash 5. Genie purchases goods on credit $ 90000. 6. Sold goods on cash $ 120000. 7. Sold goods on credit $ 150000. 8. Paid to suppliers $ 75000. 9. Received payment from customers $ 100000. 10. Paid rent $ 10000. 11. paid salaries $ 30000. 12. Paid Interest $ 2100. Carry out transaction analysis in the given format. See for Transaction 1. Check that Assets = Liabilities + Equity Submit by 19th April 2020. 32 Transactions Assets Furniture Trade Cash & Equipment Receivables & Bank Total Liabilities Loan Trade Payable Total Equity Common Stock Revenue Expenses Sales Purchased Salaries Interest Other Profit & Goods Expenses Loss Total Total Equity Equity & Liabilities 70000 70000 Balance 70000 70000 70000 70000 70000 70000 140000 0 70000 70000 70000 70000 0 70000 70000 140000 70000 70000 70000 70000 10 Balance 70000