The following transactions occurred during March 2024 for the Right Corporation. The company operates a wholesale warehouse. 1. Issued 46,000 shares of no-par common stock in exchange for $460,000 in cash. 2. Purchased equipment at a cost of $72,000. Cash of $18,000 was paid and a note payable to the seller was signed for the balance owed. 3. Purchased inventory on account at a cost of $140,000. The company uses the perpetual inventory system. 4. Credit sales for the month totaled $200,000. The cost of the goods sold was $120,000. 5. Paid $6,250 in rent on the warehouse building for the month of March. 6. Paid $7,000 to an insurance company for fire and liability insurance for a one-year period beginning April 1, 2024. 7. Paid $120,000 on account for the inventory purchased in transaction 3. 8. Collected $90,000 from customers on account. 9. Recorded depreciation expense of $1,800 for the month on the equipment. Required: Analyze each transaction and show the effect of each on the expanded accounting equation for a corporation. Note: 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. 460,000 B 4 460,000+ 2. NO + 3. WO + 4 4. MO + 5. + . 6. + . 7. + 8. NO + 9. .