The following transactions occur for Badger Biking Company during the month of June: 1. Purchase bicycle inventory for $80,000 on account. 2. Sell inventory costing $40,000 for $65,000 in cash. 3. Provide repair services to customers on account for $50,000. 4. Receive cash of $42,000 from customers in (c) above. 5. Purchase bike repair equipment by signing a note with the bank for $35,000. 6. Pay utilities of $5,000 for the current month. Analyze each transaction and show the effects of each on the accounting equation. Note: Decreases to account classifications should be indicated by a minus sign. Stockholders' Equity Transaction Assets Liabilities (1) (1) + (2) + (2) + (3) + (3) (4) (4) (5) (5) (6) + (6)