The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse 1. Issued 30,000 shares of common stock in exchange for $300,000 in cash. 2. Purchased equipment at a cost of $40,000 $10,000 cash was pald and a notes payable to the seller was signed for the balance owed 3. Purchased Inventory on account at a cost of $90,000. The company uses the perpetual inventory system, 4. Credit sales for the month totaled $120,000. The cost of the goods sold was $70,000. 5. Pald $5.000 in rent on the warehouse building for the month of March 6. Pald $6,000 to an insurance company for fire and liability insurance for a one-year perlod beginning April 1, 2021 7. Pald $70,000 on account for the merchandise purchased in 3. 8. Collected $55,000 from customers on account 9. Recorded depreciation expense of $1.000 for the month on the equipment Required: Analyze cach 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 300,000 Retained Earnings 1 2 Pald.in Capital 300.000 3 4 5