Problem: Dual effect of transactions on balance sheet equation. Indicate the effects of each of the following transactions of Gaines Corporation on the balance sheet equation. 1. The firm issues 20,000 shares of P10 par value common stock for P12 cash per share. 2. The firm issues P100,000 principal amount of bonds for P100,000 cash. 3. The firm acquires, with P220,000 in cash, land costing P40,000 and a building costing P180,000. 4. The firm acquires, on account, equipment costing P25,000 and merchandise inventory costing P12,000. 5. The firm signs an agreement to rent equipment from its owner and pays P1,500 rental in advance. 6. The firm pays P28,000 to the suppliers in 4