Selected transactions for Verdent Lawn Care Company are as follows. Describe the effect of each transaction on assets, liabilities, and stockholders' equity. For example, the rst answer is: Increase in assets and increase in stockholders' equity. 1. Sold common stock for cash to start business. Increase in assets and increase in stockholders' equity. 2. Paid monthly rent. 3. Purchased equipment on account. 4. Billed customers for services performed. 5. Paid dividends. 6. Received cash from customers billed in (4). 7. Incurred advertising expense on account. 8. Purchased additional equipment for cash. 9. Received cash from customers when service was performed. Increase in assets and increase in liabilities