Required information PA2-3 (Algo) Recording Transactions (in a Journal and T-Accounts); Preparing and Interpreting the Balance Sheet (LO 2-1, LO 2-2, LO 2-3, LO 2-4, LO 2-5] [The following information applies to the questions displayed below.] Fabulous Allen Interiors Incorporated is a leading manufacturer and retailer of home furnishings in the United States and abroad. The following is adapted from Fabulous Allen's June 30, 2019, trial balance. (The amounts shown represent millions of dollars.) Accounts Payable Accounts Reivable Cash Common Stock Equipment $ 116 15 110 25 300 Inventory 146 Notes Payable (long-term) 160 Notes Payable (short-term) Prepaid Rent 3 27 Retained Earnings 329 Salaries and Wages Payable Software 25 60 Assume that the following events occurred in the following quarter. a. Paid $40 cash for additional inventory. b. Issued additional shares of common stock for $30 in cash. c. Purchased equipment for $140; paid $65 in cash and signed a note to pay the remaining $75 in two years. d. Signed a short-term note to borrow $12 cash. e. Conducted negotiations to purchase a sawmill, which is expected to cost $32. 2. Analyze transactions (a)-(e) to determine their effects on the accounting equation. (Enter any decreases to account balances with a minus sign. Enter your answers in millions (i.e., 10,000,000 should be entered as 10).) Assets Liabilities Cash Inventory Equipment Notes Payable (short-term) Notes Payable (long-term) Stockholders' Equity Common Stock a. b. C. d e