S Brick Oven Corporation made the following expenditures during the first month of operations: Attorneys' fees to organize the corporation Purchase of a patent Legal and other fees for transfer of the patent Advertising Total $ 9,000 40,000 2,500 80,000 $ 131,500 Required: Determine the financial statement effects of the $131,500 in cash expenditures. Note: Amounts to be deducted should be indicated by a minus sign. Patents Assets Balance Sheet Liabilities 42,500 Legal Fees Expense Advertising expense Stockholders' Equity Common Stock Retained Earnings Revenues 9,000 80,000 Income Statement Expenses Net Income