Current Attempt in Progress Karen Repair Inc. was started on May 1. A summary of May transactions is presented below. 1. Stockholders invested $10,400 cash in the business in exchange for common stock. 2. Purchased equipment for $5,200 cash. 3. Paid $416 cash for May office rent. 4. Paid $312 cash for supplies. 5. Incurred $260 of advertising costs in the Beacon News on account. 6. Performed repair services for customer for $4,888 cash. 7. Paid a $728 cash dividend. 8. Paid part-time employee salaries $1,040. 9. 10. Paid utility bills $148. Performed repair services worth $1.144 on account. 11. Collected cash of $120 for services billed in transaction (10)