On June 1 of the current year, Chris Bates establahed a business to manage nentat property The following transactions were campleted suring dune: a. Opened a buskess bank account with a deposit of \$47,000 in exchange for common stack. b. Purthased office sutplies on account, $2,290. c. Received cash from fees eamed for mahaging rentw property, $6,200. d. Paid rent on office and equipment for the month, $2,810 e. Paid credators on scceunt, \$1,040. f. Eilied curtomers for tees earned for manaping rental property, $5,210. 9. Faid automebile expecoes for month, \$630, and miscellaneous expenses, $310. h. Peid oflice salaries, $1,980. 1. Determined that the cevt of fupplies on hand was $1,350; therefore, the cont of supplies ved mas $940. 1. Pald dividends, 11,000 . Required: 1. Indicate the effect of each transaction and the batances after each tratiaction: If an ambent bok does not require an entry. Gerve it biank: 2. Steckhoders' equity is the right of stockholders (owners) to the assets of the busineus. These nghts are and by dividends and expenses. 3. Determine the net inoone for June 4. How much do Juns b transactions increase of decrease stocholliers' equity? for s