On April 1 of the current year, Morgan Jones established a business to manage rental property. She completed the following transactions during April: a. Opened a business bank account with a deposit of $60,000 in exchange for common stock. b. Purchased office supplies on account, $1,800. c. Received cash from fees eamed for managing rental property, $22,300. d. Paid rent on office and equipment for the month, $7,000. e. Paid creditors on account, $1,100. f. Billed customers for fees eamed for managing rental property, $3,600. 9. Baid automoblie expenses for month, $750, and miscellaneous expenses, $1,000, h. Paid office salaries, $4,000. i. Determined that the cost of supplies on hand was $250; therefore, the cost of supplies used was $1,550. 1. Paid dividends, $5,000. Required: 1. Indicate the effect of each transaction and the balances after each transaction: For those boxes in which no entry is required, leave the box blank. Foc those boxes in which you must enter nubtractive or negative numbers use a minus sign. (Example: -300 ) 2. Stockholders' equity is the rioht of stockholders (owners) to the assets of the business, These rights are stock and revenues and by dividends and expensess. 3. Determine the net income for Aprit. 4. How much did Aprit's transactions increase or decrease stockholders' equity? by