Place the proper dollar amount in the appropriate space andarrows up or down to indicate the effect on the financial statement [F/S] element. The items are independent unless otherwise noted.

1. The firm was formed on January 1, Year 1 when four individuals each invested $10,000 cash. One individual also invested a truck worth $20,000 and loaned the firm $15,000. Show the net F/S impacts.

__________Total Assets __________Revenues

__________Total Liabilities __________Gains

__________Owners Equity __________Expenses

__________Losses

__________Income