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[The following information applies to the questions displayed below.] Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed:

1. Issued 5,600 shares of common stock for cash at $21 per share.
2. Issued 1,600 shares of common stock for cash at $24 per share.

Required:

1. Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.)

ASSETS = LIABILITIES + STOCKHOLDERS EQUITY