Elaine's Inflatables earns service revenue by providing party planning services and inflatable playscapes. Elaine's Inflatables is organized as a corporation. During the past month, Elaine's Inflatables had the following transactions: Investors contributed $10,000 to the corporation in exchange for common stock. Purchased equipment for $5,000 on account. Paid $400 for office supplies. Earned and received $2,500 cash for service revenue. Paid $400 for wages to employees. Cash dividends of $ 1,000 were paid to stockholders. Earned $ 1,000 for services provided. Customer has not yet paid. Paid $1,000 for rent. Received a bill for $250 for the monthly utilities. The bill has not yet been paid. Indicate the effects of the business transactions on the accounting equation for Elaines Inflatables. Transaction is answered as a guide. Increase asset (Cash); Increase equity (Common Stock)