Required information The following information applies to the questions displayed below.) Assume Down, Incorporated, was organized on May 1 to compete with Despair, Incorporated-a company that sells de motivational posters and office products. Down, Incorporated, encountered the following events during its first month of operations a Received $45,000 cash from the investors who organized Down, Incorporated b. Borrowed $18,000 cash and signed a note due in two years, c. Ordered equipment costing $13,000. d. Purchased $9,000 in equipment paying $4,000 in cash and signing a six- month note for the balance. e Received the equipment ordered in a paid for half of it, and put the rest on account. Required: 1. Summarize the financial effects of items (a)-(e) in a table. (Enter any decreases to account balances with a minus sign.) Assets Liabilities Cash Stockholders Equity Common Stock Equipment Accounts Payablo Short-term Notes Payable 0 Long-term Notes Payable + 0 ol 0 Beginning a. O + b c. d. ++++++ e. Ending 0 0