Goal Systems, a business consulting firm, engaged in the following transactions: a. Issued common shares for $50,000 cash b. Borrowed $20,000 from a bank C. Purchased equipment for $7,000 cash d. Prepaid rent on office space for six months in the amount of $6,600 e. Performed consulting services in exchange for $4,300 cash f. Performed consulting services on credit in the amount of $16,000 g. Incurred and paid wage expense of $7,500 h. Collected $7,200 of the receivable arising from transaction / i. Purchased supplies for $1,100 on credit j. Used $800 of the supplies purchased in transaction / k. Paid for all the supplies purchased in transaction i Required: For each transaction described above, indicate the effects on assets, liabilities, and shareholders' equity using the format below. For those boxes in which no entry is required, leave the box blank. Enter decreases account values as negative numbers. If the effect of a transaction is to increase AND decrease the same item (i.e. Asset, Liability), enter"0" since the net effect on the item is zero. Assets Liabilities + Shareholders' Equity Share Capital Retained Earnings a. b. c. III HIT d. e. f. IITTI IIII llllll j. k