Susan Wilson started her own consulting firm, Wilson Consulting Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 Stockholders invested $14,100 cash in the business in exchange for common stock. 2 Paid $564 for office rent for the month. 3 Purchased $470 of supplies on account. 5 Paid $141 to advertise for the month in the County News. 9 Performed services for customer for $1,316 cash. 12 Paid $188 cash dividend. 15 Performed $3,948 of services on account. 17 Paid $2,350 for employee salaries. 20 Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $1,128 for services performed on account on May 15. 26 Borrowed $4,700 from the bank on a note payable. 29 Purchased office equipment for $1,880 paying $188 in cash and the balance on account. 30 Paid $172 for utilities. (a) Show the effects of the above transactions on the accounting equation using the following format. Assume the note payable is to be repaid within the year. Include margin explanations for any changes in revenues or expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Susan Wilson started her own consulting firm, Wilson Consulting Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 Stockholders invested $14,100 cash in the business in exchange for common stock. 2 Paid $564 for office rent for the month. 3 Purchased $470 of supplies on account. 5 Paid $141 to advertise for the month in the County News. 9 Performed services for customer for $1,316 cash. 12 Paid $188 cash dividend. 15 Performed $3,948 of services on account. 17 Paid $2,350 for employee salaries. 20 Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $1,128 for services performed on account on May 15. 26 Borrowed $4,700 from the bank on a note payable. 29 Purchased office equipment for $1,880 paying $188 in cash and the balance on account. 30 Paid $172 for utilities. (a) Show the effects of the above transactions on the accounting equation using the following format. Assume the note payable is to be repaid within the year. Include margin explanations for any changes in revenues or expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)