The following transactions apply to Stegall Co. for 2014, its first year of operations 1. Received $39,000 cash in exchange for issuance of common stock. 2. Secured a $107,000, 10-year installment loan from First Bank. The interest rate was 5 percent and annual payments are $13,620 3. Purchased land for $21,000 4. Provided services for $85,000 cash 5. Paid other operating expenses of $49,000 6. Paid the annual payment on the loan Required a. Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Accounts Titles for Retained Earnings".) STEGALL COMPANY Effect of Events on the Accounting Equationn Assets = Liabilities + Note Payable Stockholders' Equity Event No Common Stock Accounts Titles for Retained Earnings Retained +Land Earnings 2014 4 6 Bal