The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 48,000 shares of common stock in exchange for $480,000 in cash. 2. Purchased equipment at a cost of $76,000. $19,000 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 $146,000. The company uses the perpetual inventory system 4. Credit sales for the month totaled $210,000. The cost of the goods sold was $126,000. 5. Paid $6,500 in rent on the warehouse building for the month of March. 6. Paid $7150 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021 7 Paid $126,000 on account for the merchandise purchased in 3. 8. Collected $94,500 from customers on account. 9. Recorded depreciation expense of $1,900 for the month on the equipment. Required: Analyze each transaction and show the effect of each of 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 + Retained Earnings Paid In Capital 480,000 1. 480,000 2. 3 4 5 7 8. 9