Several transactions are listed below, with the accounting equation stated to the right side of each. Use the following identification codes to indicate the effects of each transaction on the accounting equation: I = Increase D = Decrease NE = No Effect. Write your answers in the space provided under the accounting equation, being sure to include an identification code for each element of the accounting equation. An example is provided before the first transaction. Shareholders' + equity Example: Shares are issued to investors in the company NE Services are sold for cash. Equipment is purchased on credit. Payment is made for equipment purchased on credit. Services are sold for credit. Assets = Liabilities