PROBLEM SET AIdentify how each of the following separate transactions 1 through 10 affects financial statements. For increases, place a "+" and the dollar amount in the column or columns. For decreases, place a"-"and the dollar amount in the column or columns. Some cells may contain both an increase (+) and a decrease (-) along with dollar amounts. The first transaction is completed as an example 1-1A Identifying effects of transactions on financial statements Required a. For the balance sheet, identify how each transaction affects total assets, total liabilities, and total eq- A1 P1 uity. For the income statement, identify how each transaction affects net income. b. For the statement of cash flows, identify how each transaction affects cash flows from operating ac- tivities, cash flows from investing activities, and cash flows from financing activities Income Statement Balance Sheet Statement of Cash Flows Total Income Operating Total Net Total Liab. Activities Activities 1Owner invests $900 cash in business +900 +900 in exchange for stock +900 2 Receives $700 cash for services provided 3 Pays $ 4 5 Incurs $100 legal costs on credit Purchases $200 of supplies on credit 6Buys equipment for $300 cash Pays $200 on accounts payable s $400 services on credit Pays $50 cash for dividends 9 10 Collects $400 cash on accounts receivable