Kingbird Company, a computer services company, entered into these transactions during May, its first month of operations. 1. Stockholders invested $40,800 in the business in exchange for common stock of the company. 2. Purchased computers for office use (recorded as Equipment) for $30,600 from Ladd Co. on account. 3. Paid $4,080 cash for May rent on storage space. 4. Performed computer services worth $19,380 on account. 5. Performed computer services for Wharton Construction Company for $5,100 cash. 6. Paid Western States Power Co. $8,160 cash for energy usage in May. 7. Paid Ladd Co. for the computers purchased in (2). 8. Incurred advertising expense for May of $1,326 on account. 9. Received $12,240 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. -Decreases in assets, liabilities, or stockholders' equity require a negative sign or parentheses. Increases in expenses require a negative sign or parentheses. (1) (2) (3) (4) +A (5) (6) (7) (8) (9) $ Cash + Assets Accounts Receivable $ +A LA Equipment +A $ Liabilities $ CA Accounts Payable $ CA + + Common Stock +A $ $ +A +A Stockholders' Equity $ Retained Earnings Expenses Revenues +A $ +A $ LA $ Dividends $