On April 1, Oriole Travel Agency Inc. began operations. The following transactions were completed during the month:

1.		Issued common shares for $5,000 cash.
2.		Obtained a bank loan for $20,000.
3.		Paid $12,000 cash to buy equipment.
4.		Paid $1,700 cash for April office rent.
5.		Paid $1,400 for supplies.
6.		Purchased $700 of newspaper advertising on account.
7.		Earned $17,000 for services performed: cash of $2,000 was received from customers, and the balance was billed to customers on account.
8.		Declared and paid $400 of dividends to shareholders.
9.		Paid the utility bill for the month, $1,900.
10.		Paid the amount due for newspaper advertising in transaction 6.
11.		Paid $100 of interest on the bank loan obtained in transaction 2.
12.		Paid employees salaries, $6,000.
13.		Received $10,000 cash from customers billed in transaction 7.
14.		Paid income tax, $1,500.

Prepare an equation analysis of the effects of the above transactions on the accounting equation.