Spensa Corporation was established this year and had the following transactions: a. Issued common stock to investors (example) b. Purchased Inventory on account c. Borrowed cash from a local bank 7 d. Sold merchandise to customers. Gross Profit on sale is 57.6% 8 e. Dividends were paid to common shareholders 9 t. Purchased tand for cash 10 g. Incurred selling expenses paving one fourth in cash and putting the remainder on account 11h. Paid off the local bank loan and also paid 10% in interest 12 L. Earned interest from the savings account at the local bank 13 . Collected amounts owed from customers 14 15 Required Complete the table in the spreadsheet for each transaction showing the effect on the balance sheet and income 16 statement. Leave unaffected cells blank and use positive and negative numbers for increases and decreases. Be sure to enter a formula to calculate column totals, the accounting equation, and net income. 17 Note: Negative amounts or amounts to be deducted should be input and displayed as negative values. All other answers should be input and displayed as positive values. 18 19 Tip: Create formulas for the Total row and the Accounting Equation before posting transactions. 20 Graded Workshect Working- Workbopkstatisic: 19. The Create formulas for the fotal row and the Accounting Equation before posting transactions