Purchase-Related Transactions Illustrate the effects on the accounts and financial statements of the following related transactions of Bowen Inc. If no account or activity is affected, select "No effect" from the dropdown list and leave the corresponding number entry box blank. Enter account decreases and cash outflows as negative amounts. a. Purchased $400,000 of merchandise from Swanson Co. on account, terms 1/10, n/30 Balance Sheet Statement of Stockholders'Incomo Assets Liabilities Equity tatement Cash Flows No Effect + Inventory Accounts Payable No Effect -400,000 -400,000 Statement o f Cash Flows Income Statement No effect No effect No effect No effect