E3-3 During 2014, its first year of operations as a delivery service, Persinger Corp. entered into the following transactions. 1. Issued shares of common stock to investors in exchange for $100,000 in cash. 2. Borrowed $45,000 by issuing bonds. 3. Purchased delivery trucks for $60,000 cash. 4. Received $16,000 from customers for services performed. 5. Purchased supplies for $4,700 on account. 6. Paid rent of $5,200. 7. Performed services on account for $10,000. . 8. Paid salaries of $28,000. 9. Paid a dividend of $11,000 to shareholders. Instructions Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders' Equity in the right-hand margin. Use Illustration 3-3 (page 110) as a model. Assets Liabilities + Stockholders' Equity Equip- Accounts Receivable Accounts Payable Bonds Payable Common Stock Retained Earnings Expenses Cash + + Supplies + ment + + + Revenues Dividends