The following transactions occurred during a recent year: a. Paid wages of $1,300 for the current period (example) b. Borrowed $6,500 cash from local bank using a short-term note. c. Purchased $2,600 of equipment on credit. d. Earned $520 of sales revenue, collected cash. e. Received $1,040 of utilities services, on credit. f. Earned $2,200 of service revenue, on credit. g. Paid $390 cash on account to a supplier. h. Incurred $90 of travel expenses; paid cash. i. Earned $520 of service revenue, collected half in cash, with balance on credit. i. Collected $140 cash from customers on account. k. Incurred $380 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.) Liabilities Stockholders' Equity Salaries and Wages Expense (1,300) (1,300) 6,500 Note Payable (short-term) Accounts Payable Service Revenue Assets a. Cash b. Cash Equipment Cash e. Service Revenue Utilities Expense g. Cash h. Cash Cash i. Cash Accounts Receivable 2,600 520 1,040 2,200 390 90 520 Accounts Payable Accounts Payable Unearned Revenue Retained Earnings Retained Earnings Unearned Revenue Unearned Revenue Unearned Revenue Unearned Revenue 5201 Cash Accounts Receivable k. Cash 140 140 380