[The following information applies to the questions displayed below.) Laser Delivery Services, Inc. (LDS), was incorporated January 1. The following transactions occurred during the year: a. Received $40,000 cash from the company's founders in exchange for common stock b. Purchased land for $12,000, signing a two-year note (ignore interest). c. Bought two used delivery trucks at the start of the year at a cost of $10,000 each; paid $2,000 cash and signed a note due in three years for $18,000 (ignore interest). d. Paid $2,000 cash to a truck repair shop for a new motor, which increased the cost of one of the trucks. e. Stockholder Jonah Lee paid $300,000 cash for a house for his personal use. Required: 1. Analyze each item for its effects on the accounting equation of LDS for the year ended December 31. (Enter any decreases to account balances with a minus sign.) TIP: Transaction (a) is presented below as an example, TIP: The new motor in transaction (d) is treated as an increase to the cost of the truck Assets Liabilities Accounts Notes Payable Payable (long-term) Stockholder Equity Common Stock Cash Land Equipment 0 Beg 40,000 40,000 Required: 1. Analyze each item for its effects on the accounting equation of LDS for the year ended December 31. (Enter any decreases to account balances with a minus sign.) TIP: Transaction (a) is presented below as an example, TIP: The new motor in transaction () is treated as an increase to the cost of the truck. Assets Liabilities Stockholders Equity Common Stock Cash Equipment Land Accounts Payable Notes Payable (long-term) 40,000 40.000 12.000 (12.000) (18,000) 20.000 2,000 (2.000)| (2.000) (300,000) (262,000) (300.000) (260,000) End. 22,000 12.000 (30.000)