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M2-29. Analyzing Transactions Using the Financial Statement Effects Template LO1,2 Report the effects for each of the following independent transactions using the financial statement effects template. If no entry should be made, answer "No entry." Balance Sheet Income Statement Cash Noncash Liabil-Contrib. Earned Net Revenues- Expenses = Asset Assets ities Capital Capital Transaction a. Issue common stock for $20,000 cash b. Pay $2,000 rent in advance c. Purchase computer equipment for $7,000 cash. d. Purchase and receive $13,000 of inventory on account (i.e., pay supplier later) e. Pay supplier of inventory in part (d