Stock Issuance Utep Enterprises had the following transactions during 2017, its first year of business. Required: 1. Identify and analyze the effect of each transaction. a. Issued 3,500 shares of $5 par common stock for cash at $15 per share. Activity Accounts Statement(s) How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Assets Balance Sheet Liabilities Stockholders' Equity Revenues b. Issued 7,300 shares of common stock on May 1 to acquire a factory building from Barkley Company. Barkley had acquired the building in 2013 at a price of $150,000. Utep estimated that the building was worth $175,000 on May 1, 2017. Activity Accounts Statement(s) How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Assets Balance Sheet Liabilities Stockholders' Equity c. Issued 1,300 shares of stock on June 1 to acquire a patent. The accountant has been unable to estimate the value of the patent but has determined that Utep's common stock was selling at $25 per share on June 1. Activity Accounts Statement(s) Revenues Income Statement Income Statement Expenses Net Income Net Expenses Income How does this entry affect the accounting equation? If a financial statement item is not affected, select "No Entry" and leave the amount box blank. If the effect on a financial statement item is negative, i.e, a decrease, be sure to enter the answer with a minus sign. Assets Balance Sheet Liabilities 2. Determine the balance sheet amounts for common stock and additional paid-in capital. Common stock Additional paid-in capital Total contributed capital Stockholders' Equity Revenues Income Statement Net Expenses Income