Describe the effect of each transaction on assets, liabilities, and stockholders' equity.

Purchased computers for $$20,000$ from Data Equipment on account.

Paid $$3,000$ cash for May rent on storage space.

Received $$15,000$ cash from customers for contracts billed in April.

Performed computer services for Ryan Construction Company for $$2,700$ cash.

Paid Midland Power Co$.$ $$11,000$ cash for energy usage in May.

Stockholders invested an additional $$32,000$ in the business.

Paid Data Equipment for the computers purchased in $(1)$ above.

Incurred advertising expense for May of $$840$ on account.

Indicate whether the following items would appear on the income statement, balance sheet, or retained earnings statement.

$($a$)$ Notes payable

$($b$)$ Advertising expense

$($c$)$ Common stock

$($d$)$ Cash

$($e$)$ Service revenue

$($f$)$ Dividends