The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 42,000 shares of common stock in exchange for $420,000 in cash. 2. Purchased equipment at a cost of $64,000. $15,000 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 $128,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $180,000. The cost of the goods sold was $108,000. 5. Paid $5,750 in rent on the warehouse building for the month of March 6. Paid $6,700 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. 7. Paid $108,000 on account for the merchandise purchased in 3. 8. Collected $81,000 from customers on account. 9. Recorded depreciation expense of $1,600 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.) Liabilities + Assets 420,000 Pald-In Capital 420,000 Retained Earnings 1 2 3 4. 5 6. 7 8 9