The following transactions occurred during March 2021 for the Wainwright Corporation. The company owns and operates a wholesale warehouse. 1. Issued 44,000 shares of common stock in exchange for $440,000 in cash. 2. Purchased equipment at a cost of $68,000 $17,000 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 $134,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $190,000. The cost of the goods sold was $114.000 5. Pald $6,000 in rent on the warehouse building for the month of March 6. Paid $6,850 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2021. 7. Paid $114,000 on account for the merchandise purchased in 3. 8. Collected $85,500 from customers on account. 9. Recorded depreciation expense of $1700 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 440,000 Retained Earnings Paid In Capital 440,000 1. 2 4. 5. 6. 7 8