Problem 1-1A Identifying effects of transactions on financial stat ements LO A1, P1 Identify how each of the following separate transactions 1 through 10 affects financial statements. For increases, place a dollar amount in the column or columns. For decreases, place a"ar contain both an increase (+) and a decrease (-) along with the dollar amounts. The first transaction is completed as an example Required nd the d the dollar amount in the column or columns. Some cells nce sheet, identify how each transaction affects total assets, total liabilities, and total equity For the income statement b ror the statenrertof identify how each transaction affects net income. b. For the statemen activities, and cash flows from financing activities. tly how each transaction affects cash fows fiom operating actvities, cash tows from investing Answer is not complete Balance Sheet Statement of Cash Flows Total . Total-Total Statement Net Tra Income Activities +900 700+700 500 500 700 4. Incurs $100 legal costs on credit 100-100-100 200 200 300 +400 )+400 -50 50 +-400 50 9. Pays $50 cash for dividends 10. 400