Cheyenne Corp. was started on May 1. A summary of May transactions is presented as follows. 1. Stockholders invested $13,500 cash in the business in exchange for common stock. 2. Purchased equipment for $4,500 cash. 3. Paid $300 cash for May office rent. 4. Paid $600 cash for supplies. 5. Incurred $300 of advertising costs in the Beacon News on account. 6. Received $5,600 in cash from customers for repair service. 7. Declared and paid a $1,000 cash dividend. 8. Paid part-time employee salaries $900. 9. Paid utility bills $160. 10. Performed repair services worth $910 on account. 11. Collected cash of $140 for services billed in transaction (10). Prepare a tabular analysis of the transactions. Revenue is called Service Revenue. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' 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 1-8 for example.) Assets Accounts Cash Receivable Supplies Equi 1. 2. 3. 5. 6. 7. %24 %24 %24 %24 4. Cheyenne Corp. Liabilities Stockholders' Equity Accounts Common Retained Earni Payable Stock Revenues Expenses %24 %24 %24 %24 rs' Equity Retained Earnings Expenses Dividends %24 %24 $