P2-3 P2-4 P3-1 P3-2 P3-3 P3-4 ALANCE SHEET TOTAL LIAB. EQUITY INCOME STATEMENT NET INCOME P2-1C. Identify how each of the following transactions affects the company's financial statements. The balance sheet includes all asset, liability, and equity accounts. For the income statement, include all transactions that affect net income. If there is an increase, place a "+" in the column; if there is a decrease, place a"-" in the column. If there is both an increase and decrease, place +/- in the column. The first transaction has been completed for you. 1. Owner invests cash 2. Pay wages with cash 3. Perform services on credit 4. Buy store equipment for cash 5. Borow cash with note payable. 6. Perform services for cach 7. Perform services on account 8. Pay rent with cash 9. Owner withdraws cash 10. Colled receivable from (7) Total Assets Balance Sheet Total Income Statement Net Liab Equity Income + +