During 2022, its first year of operations as a delivery service,Splish BrothersCorp. entered into the following transactions.

1.Issued shares of common stock to investors in exchange for $94,000in cash.2.Borrowed $42,300by issuing a note.3.Purchased delivery trucks for $56,400cash.4.Performed services for customers for $15,040cash.5.Purchased supplies for $4,418on account.6.Paid rent of $4,888.7.Performed services on account for $9,400.8.Paid salaries of $26,320.9.Paid a dividend of $10,340to shareholders.

Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to revenues or expenses in the right-hand margin.(If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)

Assets

=Liabilities

+Stockholders' Equity

Retained Earnings

Cash

+Accounts Receivable

+Supplies

+Equipment

=Accounts Payable

+Notes Payable

+Common Stock

+Revenues

-Expenses

-Dividends

(1)$

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Rent Expense

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Salaries and Wages Expense

Rent Revenue

Service Revenue

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Rent Revenue

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Salaries and Wages Expense

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Rent Expense

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Salaries and Wages Expense

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Rent Expense

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Rent Revenue

Service Revenue

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