Federal Hill Corporation had the following transactions occurred during March 2024. Federal Hill Corporation operates a wholesale warehouse in Baltimore. 1. Issued 46,000 shares of no-par common stock in exchange for $460,000 in cash. 2. Purchased new equipment at a cost of $72,000. Cash of $18,000 was paid and a note payable to the seller was signed for the balance owed. 3. Purchased inventory on account at a cost of $140,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $200,000. The cost of the goods sold was $120,000. 5. Paid $6,250 in rent on the warehouse building for the month of March. 6. Paid $7,000 to an big insurance company for fire & liability insurance for a 1-year period beginning April 1, 2024. 7. Paid $120,000 on account for the inventory purchased in transaction 3. 8. Collected $90,000 from several customers on account. 9. Recorded depreciation expense of $1,800 for the month on the equipment. Required: Please carefully analyze each of Federal Hill Corporation's transaction and show the effect of each transaction on the expanded accounting equation. Note: Amounts to be deducted should be indicated by a minus sign. Enter the net change on the accounting equation. Assets 460,000 " Liabilities: 4 Paid-In Capital + 460,000 Retained Earnings 4 -23 4 . . + 4. + 5. 6. 7 . 8 9. +