Helen Martin started her own consulting firm, Martin Consulting inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 Stockholders invested $16,200 cash in the business in exchange for common stock. 2 Paid $648 for office rent for the month. 3 Purchased $540 of supplies on account. 5 Paid $162 to advertise for the month in the County News. 9 Performed services for customer for $1,512 cash. 12 Paid $216 cash dividend. 15 Performed $4,536 of services on account. 17 Paid \$2,700 for employee salaries. 20 Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $1,296 for services performed on account on May 15. 26 Borrowed $5,400 from the bank on a note payable. 29 Purchased office equipment for $2,160 paying $216 in cash and the balance on account. 30 Paid $200 for utilities. Show the effects of the above transactions on the accounting equation using the following format. Assume the note payable is to be repaid within the year. Include margin explanations for any changes in revenues or expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Helen Martin started her own consulting firm, Martin Consulting inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 Stockholders invested $16,200 cash in the business in exchange for common stock. 2 Paid $648 for office rent for the month. 3 Purchased $540 of supplies on account. 5 Paid $162 to advertise for the month in the County News. 9 Performed services for customer for $1,512 cash. 12 Paid $216 cash dividend. 15 Performed $4,536 of services on account. 17 Paid \$2,700 for employee salaries. 20 Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $1,296 for services performed on account on May 15. 26 Borrowed $5,400 from the bank on a note payable. 29 Purchased office equipment for $2,160 paying $216 in cash and the balance on account. 30 Paid $200 for utilities. Show the effects of the above transactions on the accounting equation using the following format. Assume the note payable is to be repaid within the year. Include margin explanations for any changes in revenues or expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)