Kingbird Company, a computer services company, entered into these transactions during May 2022, its first month of operations. 1. Stockholders invested $32,000 in the business in exchange for common stock of the company. 2. Purchased computers for office use (recorded as Equipment) for $24,000 from Ladd Co. on account. 3. Paid $3,200 cash for May rent on storage space. 4. Performed computer services worth $15,200 on account. 5. Performed computer services for Wharton Construction Company for $4,000 cash. 6. Paid Western States Power Co. $6,400 cash for energy usage in May. 7. Paid Ladd Co. for the computers purchased in (2). 8. Incurred advertising expense for May of $1,040 on account. 9. Received $9,600 cash from customers for contracts billed in (4). Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to revenues or expenses in the right-hand column. (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.) (1) $ Assets Cash + Accounts Receivable + $ $ Liabilities Equipment Accounts Payable $