The following transactions occurred during a recent year a Paid wages of $1,000 for the current period (example). b. Borrowed $5,000 cash from local bank using a short-term note. c. Purchased $2,000 of equipment on credit d Earned $400 of sales revenue; collected cash. e. Received $800 of utilities services, on credit. f Earned $1,700 of service revenue, on credit. g Paid $300 cash on account to a supplier h. Incurred $70 of travel expenses: paid cash. Earned $400 of service revenue; collected half in cash, with balance on credit. / Collected $100 cash from customers on account. k Incurred $300 of advertising costs; pald half in cash, with balance on credit Required: 1. For each of the transactions, complete the following table. 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. 2. Determine the company's preliminary net income. Check Required 1 Required 2 For each of the transactions, complete the following table, indicating the account, amount, and direction of the effect (+ for increase and - for dec basis. Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example a minus sign.) Transaction Assets Liabilities StockholdersEq Cash Salaries and Wages Expense a (1,000) C. d. f h Required 2> the following table, indicating the account, amount, and direction of the effect (+ for increase and- for decrease) of each transaction under the as as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example. (Enter any decreases to account bala Liabilities Stockholders' Equity (1,000) Salaries and Wages Expense (1,000) Required 2 equity, as shown for the first transaction, which is provided as an example. as su 2. Determine the company's preliminary net income. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the company's preliminary net income. Preliminary Net Income Required 1