During April, Walmart purchased $14,000 worth of supplies. At April 30 the adjusted balance in the Supplies account was $11,800. The adjusting entry included a $2,000 debit tqSupplies Expense. * True False O Common shares * O Represent residual equity in a corporation Always represent total contributed capital Allow shareholders to bind the corporation to contracts because they share in ownership O Make shareholders liable for acts of the corporation because they share in ownership O Are usually redeemable Profit on the income statement results in an increase in equity on the balance sheet due to profitable operating activities over a period of time. True False