Ivanhoe Computer Corporation had the following opening account balances at the end of April: Cash $5,500; Accounts Receivables 7,000; Accounts Payable $ 2,500, Common Shares $5,000; and Retained Earnings $5,000. It entered into the following transactions during the month of May: 1 2 3 4. 5. Purchased equipment on account for $8.200. Paid $ 1.400 for rent for the month of May. Provided computer services for $4,200 on account. Paid Ontario Hydro $ 300 cash for utilities used in May. Borrowed $ 19.600 from the bank. Paid supplier for equipment purchased in transaction 1. Purchased a one-year accident insurance policy for $ 500 cash. Received $3.300 cash in partial payment of the account owed in transaction 3. Declared and paid $ 500 of dividends to shareholders. Paid income tax of $ 250 for the month. 6. 7. 8 9. 10. Prepare an equation analysis of the effects of the opening balances and above transactions on the expanded accounting equation of transaction causes a decrease in Assets, Lables or Shareholders Equity, placate nepotes for parenthe) in front of the amount entered for the particular Asset, Lability or Equity Item that was reduced. See flustration 3.3 for cumple) Determine the total assets and the total liabilities and shareholders' equity. $ Total Assets $ Total Liabilities and Shareholders' Equity