Nona Curry started her own consulting firm, Blossom Consulting inc., on May 1,2025. The following transactions occurred during the month of May. May 1 Stockholders invested $17,925 cash in the business in exchange for common stock. 2 Paid $717 for office rent for the month. 3 Purchased $598 of supplies on account. 5 Paid $179 to advertise in the County News. 9 Received $1,673 cash for services performed. 12 Paid $239 cash dividend. 15 Performed $5,019 of services on account. 17 Paid $2,988 for employee salaries. 20 Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $1,434 for services performed on account on May 15. 26 Borrowed $5,975 from the bank on a note payable. 29 Purchased office equipment for $2,390 paying $239 in cashand the balance on account. 30 Paid $215 for utilities. (a) 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. (If a transaction causes 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. Include margin explanations for any changes in Retained Earnings.) Equipment Notes Payable Accounts Payable Common Stock $ $ Stockholders' Equity Retained Earnings Revenues Expenses Dividends Advertising Expense Dividends Rent Expense Salaries and Wages Expense Service Revenue Utilities Expense Nona Curry started her own consulting firm, Blossom Consulting inc., on May 1,2025. The following transactions occurred during the month of May. May 1 Stockholders invested $17,925 cash in the business in exchange for common stock. 2 Paid $717 for office rent for the month. 3 Purchased $598 of supplies on account. 5 Paid $179 to advertise in the County News. 9 Received $1,673 cash for services performed. 12 Paid $239 cash dividend. 15 Performed $5,019 of services on account. 17 Paid $2,988 for employee salaries. 20 Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $1,434 for services performed on account on May 15. 26 Borrowed $5,975 from the bank on a note payable. 29 Purchased office equipment for $2,390 paying $239 in cashand the balance on account. 30 Paid $215 for utilities. (a) 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. (If a transaction causes 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. Include margin explanations for any changes in Retained Earnings.) Equipment Notes Payable Accounts Payable Common Stock $ $ Stockholders' Equity Retained Earnings Revenues Expenses Dividends Advertising Expense Dividends Rent Expense Salaries and Wages Expense Service Revenue Utilities Expense