Requlred informetion [The following informacion dpples to the questions deapldyed below]) Grandpa Clocks, incorporated 16CV, is a retaler of wall. mintle, and grondeot er ciocks Assure GCi seis a grandesthe: clock for 511,500 cash plos 6 percent sales tax. The clock had oelinhly cont CCi 57,500 . Acsurne GCl uses a perpetual limentory system. 1. Indicate the elfects of the amounts for the above transactions (Enter eny decreases to assets, liablibles, er wochholdera equity with o minus sign.)