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Letty's Laundry and Dry Cleaning incorporated and started business on January 1, 2016. Letty's Laundry and Dry Cleaning began business by depositing 1 $30,000 in a checking account in the name of Letty's Laundry and Dry Cleaning, Inc. for which capital stock is issued. 2 Borrowed $6,000 from City Bank. 3 Purchased equipment from Washers Wholesale, $16,200. 4 Purchased supplies coting $3,000 from Suds 'n Stuff for cash. 5 Paid one month's rent for business space in Pine Plaza, $1,000. Services provided to customers during January totaled $13,400. 6 All services were paid for in cash. 7 Paid employees for January, $2,240. 8 Received and paid the utility bill, $500. 9 Received nd paid telephone bill, $250. 10 Paid dividends to the stockholders, $2,140. Indicate the effect of each transaction on the accounting equation by listing the numbers identifying the transactions, (1) through (10) in a vertical column, and inserting at the right of each number the appropriate letter from the following list: C. a. Increase in an asset, decrease in another asset. b. Increase in an asset, increase in a liability. Increase in an asset, increase in stockholders' equity. d. Decrease in an asset, decrease in a liability. e. Decrease in an asset, decrease in stockholders' equity