The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 20,000 shares of common stock in exchange for $200,000 in cash. 2. Purchased equipment at a cost of $20,000. $5.000 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 $62,000. The company uses the perpetual inventory system 4. Credit sales for the month totaled $70,000. The cost of the goods sold was $42.000 5. Paid $3.000 in rent on the warehouse building for the month of March 6. Pald $5,200 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021 7. Pald $42.000 on account for the merchandise purchased in 3. 8. Collected $31.500 from customers on account. 9. Recorded depreciation expense of $500 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 occounting equation.) Liabilities Retained Earnings Assets 200,000 Pald-In Capital 200,000 1 2 3 4 5 6 7 8 9