Question 3 Not yet answered Marked out of 1.00 Flag question Analyzing Transactions using the Financial Statement Effects Template Report the effects for each of the following independent transactions using the financial statement effects template provided. Transaction (a) Issue stock for $3,000 cash (b) Purchase inventory for $1,500 cash (c) Sell inventory from (b) for $6,000 on credit (d) Record $1,500 for cost of inventory sold in (c) (e) Receive $6,000 cash on receivable from (c) Totals Balance Sheet Cash Asset + Noncash Assets = Liabilities + Contributed Capital + Earned Capital Revenue 3000+ -1500 + + 3000+ + + + $ + $ + $ Income Statement Expenses = Net Income $