The following transactions occurred during March 2018 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 26,000 shares of common stock in exchange for $260,000 in cash. 2. Purchased equipment at a cost of $32,000. $8,000 cash was paid and a note payable was signed for the balance owed. 3. Purchased inventory on account at a cost of $80,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $100,000. The cost of the goods sold was $60,000. 5. Paid $3,750 in rent on the warehouse building for the month of March. 6. Paid $5,650 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2018. 7. Paid $60,000 on account for the merchandise purchased in 3. 8. Collected $45,000 from customers on account. 9. Recorded depreciation expense of $800 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