SAMCO Appraisal Service provides commercial and industrial appraisals and feasibility studies. On January 1, the assets and liabilities of the business were the following: Cash Accounts Receivable Accounts Payable Notes Payable Common Stock Retained Earnings $8,700 18,800 5.200 6.500 14.800 1.000 The following transactions occurred during the month of January Jan 1,500 9,800 900 1 Paid rent for January 2 Received payment of customers accounts 3 Paid on accounts payable 4 Received for services performed for cash customers 5 Borrowed from a bank and signed a note payable for that amount 6 Billed the city for a feasibility study performed and billed various other credit customers 7 Paid the salary of an assistant 8 Received invoice for January utilities 9 Paid cash for employee salaries 10 Purchased a van on January 31 for business use Il Paid to bank as January interest on outstanding note payable 900 8.000 7,800 3.500 4.500 610 6,000 9,800 400 Required Set up an accounting equation in columnar form with the following individual assets, liabilities, and stockholders' equity accounts: Cash, Accounts Receivable. Van, Accounts Payable. Notes Payable, Common Stock, and Retained Earnings. Enter the January 1 balances below each item. (Note: The beginning Van account balance is $0.) Show the impact (increase or decrease) of transactions 1-11 on the beginning balances, and total the columns to show that assets equal liabilities plus stockholders' equity as of January 31. b Accounts Receivable Accounts Payable Notes Payable Common Stock Retained Earnings Cash + Auto + + + Balance + - - + 2 3 4 5 6 + + + + + + + + + + + + + + + + + + + + + + - + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + 7 8 9 10 Totals Total Assets Total Liabilities and Stockholders' Equity