The following events apply to Bowman's Cleaning Service for 2016. 1). Issued stock for $44,000 cash. 2). On May 1, paid $27,000 for one year's rent in advance. 3). Purchased on account $4,500 of supplies to be used in the business. 4). Performed services of $68,400 and received cash. 5). At December 31, adjusted the records for the expired rent. 6). At December 31, an inventory of supplies showed that $660 of supplies were still unused. Required: Draw an accounting equation and record the effects of the above events under the Events Assets Liability Stockholders Equity Cash Supplies Prepaid Account Comm Retained Rent Payable Stock Earnings - + 2 3 4 5 6 Total 7 A B I EE EE o 29