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RCES Brief Exercise 3-3 During 2017, Sunland Company entered into the following transactions. 1. Purchased equipment for $280,350 cash. 2. Issued common stock to investors for $137,900 cesh 3. Purchased inventory of $73,900 on account. udy g the following tabular analysis, show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. (If a transaction causes a decrease in Assets rStockholders Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 3-3 for example.) -Liabilities + Stockholders' Equity Assets Cash nventory + Equipment = Accounts Payable + Common Stock + Retained Earnings LINK TO TEXT INTERACTIVE TUTORIAL Question Attempts: 0 of 3 used