The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. Issued 34,000 shares of common stock in exchange for $340,000 in cash. Purchased equipment at a cost of $48,000. $12,000 cash was paid and a notes payable to the seller was signed for the balance owed. Purchased inventory on account at a cost of $104,000. The company uses the perpetual inventory system. Credit sales for the month totaled $140,000. The cost of the goods sold was $84,000. Paid $4,500 in rent on the warehouse building for the month of March. Paid $6,100 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. Paid $84,000 on account for the merchandise purchased in 3. Collected $63,000 from customers on account. Recorded depreciation expense of $1,200 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
1.	340,000				340,000
2.
3.
4.
5.
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8.
9.	(1,200)						(1,200)