Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity.

1. Receive payment of $12,000 owed by a customer

2. Purchase equipment for $45,000 in cash

3. Issue $85,000 in stock

4. Borrow $67,000 from a bank

5. Buy $17,000 worth of manufacturing supplies on credit

6. Pay $7,000 owed to a supplier

7. Receive payment of $11,000 owed by a customer

What is the net change in Total Liabilities & Equity?