Presented below are a number of economic events, Using the format shown after the transactions, indicate whether the event (including its amount) increased (+), decreased (-), or had no effect (NE) on each element of the accounting equation 1. Purchased supplies on account, $240 2. Provided a service on account, $480. 3. Paid salaries expense, $330. 4. Issued common shares in exchange for cash, $4,840 5. Declared and pald $90 of divldends to shareholders. 6. Received cash from a customer who had previouslybeen billed for services provided, $480 (see item 2). 7. Paid account owed to supplier on account, $240 (see item 1) 8. Paid for insurance in advance, $90. 9. Received cash in advance from a customer for services to be performed in the future, $320 10. Performed the service that the customer previously paid for (see item 9) Use the following format Llabilitles Retained Earnings Acccounts Receivable Supplies Insurance Payable Prepaid Accounts Unearned Revenue Common Shares Transaction 1. 2. 3. 4. 5. 6. Cash Revenues Expenses Declared 8. 10 Total