Following is a selection of independent transactions for Jupiter Co.:

1. Performed services on account, $18,500
2. Paid salaries of $3,500 for the current month.
3. Paid $2,000 dividend to shareholders
4. Issued common shares to investors in exchange for $60,000 cash
5. The company amortized 1 year of a 3-year insurance policy. The policy was purchased 2 years ago for $36,000 cash.

f. The company purchased a vehicle costing $40,000, paying $10,000 cash and signing a 1-year, 10% note for the balance.

Required

Identify the dollar effect and the direction (+ = Increase; = Decrease; NE = No Effect) for each of the transactions (b) to (f) on the accounting equation, by completing the table below. Note that the sign must be included to indicate if the amount is positive or negative and if there is no effect, NE must be included. Item (a) is done as an example below.

Item	Assets	Liabilities	Owners Equity	Net Income
a. (example)	+18,500	NE	+18,500	+18,500
B
C
D
E
F