The following transactions occurred during March 2018 for the Wainwright Corporation. The company owns and operates a wholesale warehouse.

1. Issued 22,000 shares of common stock in exchange for $220,000 in cash.
2. Purchased equipment at a cost of $24,000. $6,000 cash was paid and a note payable was signed for the balance owed.
3. Purchased inventory on account at a cost of $68,000. The company uses the perpetual inventory system.
4. Credit sales for the month totaled $80,000. The cost of the goods sold was $48,000.
5. Paid $3,250 in rent on the warehouse building for the month of March.
6. Paid $5,350 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2018.
7. Paid $48,000 on account for the merchandise purchased in 3.
8. Collected $36,000 from customers on account.
9. Recorded depreciation expense of $600 for the month on the equipment.

Required: Analyze each transaction and show the effect of each on the accounting equation for a corporation. (Amounts to be deducted should be indicated by a minus sign. Enter the net change on the accounting equation.)

Assets = Liabilities + Paid-In Capital + Retained Earnings