Teri West operates her own catering service. Summary financial data for July are presented in equation form as follows. Each line designated by a number indicates the effect of a transaction on the equation. Each increase and decrease in stockholders' equity, except transaction $(5),$ affects net income.

Assets $=$ Liabilities $+$ Stockholders' Equity

Transaction Cash $+$ Supplies $+$ Land $=$ Accounts Payable $+$ Common Stock $+$ Retained Earnings $-$ Dividends $+$ Fees Earned $-$ Expenses

Bal. $39,300+5,100+98,300=10,600+67,100+65,000-+-$

$1.+46,000++=++-+46,000-$

$2.-19,700+++19,700=++-+-$

$3.-34,200++=++-+--34,200$

$4.++2,000+=+2,000++-+-$

$5.-2,600++=++--2,600+-$

$6.-9,400++=-9,400++-+-$

$7.+-3,900+=++-+--3,900$

Bal. $19,400+3,200+118,000=3,200+67,100+65,000--2,600+46,000--38,100$