The following transactions occurred during a recent year a Paid wages of $1,100 for the current period (example) b. Borrowed $5,500 cash from local bank using a short-term n c Purchased $2 200 of equipment on credit d. Eaned $440 of sales revenue, collected cash. e. Received $880 of utilities services, on credit f Eamed $1,870 of service revenue, on credit g Paid $330 cash on account to a supplier h Incurred S75 of travel expenses, paid cash i. Earned $440 of service revenue, collected half in cash, with balance on credit Collected $110 cash from customers on account Incurred $320 of advertising costs, paid half in cash, with balance on credit Required 1. For each of the transactions, complete the table below, indicating the account, amount, and direction of the effect (+ for increase and + for decrease) of each transaction under the accrual basis. Include revenues and expenses as subcategories of stockholders equity, as shown for the first transaction which is provided as an example. Also, determine the company's preliminary net income (Enter any decreases to account balances with a minus sign.) bilities Stoc a Cash (1.100) Salaries and Wages Expense (1,100)