The following transactions occurred during March 2021 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 notes payable to the seller 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, 2021. 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. Requlred: 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.) = Liabilities + + Retained Earnings Assets 220,000 Paid-In Capital 220.000 1. 2. 18,000 68,000 68.000 48.000 (3.250) 448 (3.250) (48,000) (48,000) 38.000 (600) (800)