On the first day of the fiscal year, Western Productions Corporation had 220,000 shares of $1.00 par common stock issued and outstanding, and the retained earnings balance was 5940,000. Show how each of the following transactions would affect the accounting equation: 1Click to view the transactions.) Show how each transaction would affect the accounting equation. Some of the account names will be abbreviated. 1. Issued 7,000 additional shares of common stock for S12.00 per share. (Use parentheses or a minus sign when entering component decreases or contra account increases lf a transaction has no affect on the accounting equation, leave the equation blank. Use only the necessary input lines.) Shareholders' Equity Assets Liabilities +Contributed Capital+ Retained Earnings Account Account 2. Declared and distributed a 10% stock dividend when the market price was $12.00 per share. (Use parentheses or a minus sign when entering component decreases or contra account increases. If a transaction has no affect on the accounting equation, leave the equation blank. Use only the necessary input lines.) Shareholders' Equity Assets Liabilities +Contributed Capital+ Retained Earnings Account Account Account