Crane Repair Inc. was started on May 1. A summary of May transactions is presented as follows. 1. Stockholders imvested $18,500 cash in the business in exchange for common stock. 2. Purchased equipment for $4,500 cash. 3. Paid $400 cash for May office rent. 4. Paid $600 cash for supplies. 5. Incurred $200 of advertising costs in the Beacon News on account. 6. Received $4,300 in cash from customers for repair service. 7. Declared and paid a $1,100 cash dividend. 8. Paid part-time employee salaries $900. 9. Paid utility bills $140. 10. Performed repair services worth $890 on account. 11. Collected cash or $120 for services billed in transaction (10). Question 1 of 3 11.31/33; Assets