P2-2A Below is a list of activities for Purple Cow Incorporated. Transaction Assets = Liabilities Stockholders' Equity 1. Provide services to cUstomers on account +$1,600 +S1,600 so = S1,600 2. Pay $400 for current month's rent 3. Hire a new employee, who will be paid $500 at the end of each month 4. Pay $100 for advertising aired inthe current period. 5. Purchase office supplies for $400 cash. 6. Receive cash of $1,000 from customers in (1) above 7. Obtain a loan from the bank for $7,000 8. Receive a bill of $200 for utilitycosts in the current period 9. Issue common stock for $10,000 cash. 10. Pay $500 to employee in (3) above Totals Required: For each activity, indicate the impact on the accounting equation. After doing for all transactions, ensure that the accounting equation remains in balance so