Determine the financial effect on the balance sheet and income statement for each of the following independent events using the Transaction Analysis Template. a. Purchased inventory on account, $3,000. b. Rendered services to clients on account, $3,600. c. Paid wages for the week, $480. d. Collected $2,400 from clients on account. Notes: Use negative signs with answers, when appropriate. If a transaction increases and decreases the same Balance Sheet category, enter the increase amount in the first row, followed by the decrease amount in the row directly Balance Sheet Income Statement Transaction Assets Liabilities + Stockholders' Equity Revenues Expenses Net Income a. Purchased inventory on account. 3,000 3,000 0~ 0 0V 0 0 0 b. Rendered services to clients on account. 3,600 3,600 0 x 0 3,600 03 0 c. Paid wages for the week. (480) 0 0 X ( 480 0 x 0~ 0 d. Collected from clients on account. 2,400 0 0 0 0 0 8,520 x 0 Check