Orange inc. provides moving vehicle rental services. It has cargo vans., moving trucks, pickup trucks, trailers, etc. In the year 20X3, the company incurred the following transactions.

The company purchased a license to sell rental car insurance coverage. The cost for the license is $100,000 and it can be used for 10 years after and after that, the company needs to repurchase a license.

The company ordered 10 new cargo vans, which was sold for $50,000 per vehicle. Because of the supply chain issues the cargo vans have not been shipped.

The company issued $60,000 common shares for cash.

The company had a 3 for 1 stock split.

Required

As the junior accountant , you are required to analyze the impact of each transaction on the statement of financial position elements, i.e. increase/decrease and amount on assets, Liabilities, and shareholders’ equity, for the fiscal year ended December 31^st fiscal year end. For every transaction make sure to consider the impacts on each of the three elements.