The following transactions occurred during March year 1 for the Plare Corporation. The company owns and operates a wholesale warehouse. 1. Issued 32,500 shares of common stock in exchange for $325,000 in cash. 2. Purchased equipment at a cost of $36,000. $12,100 cash was paid and a note payable was signed for the balance owed. 3. Purchased inventory on account at a cost of $97,000. The company uses the perpetual inventory system 4. Credit sales for the month totaled $150,000. The cost of the goods sold was $75,445. 5. Paid $4,000 in rent on the warehouse building for the month of March. 6. Paid $5,100 to an insurance company for fire and liability insurance for a one-year period beginning April 1, year 1. 7. Paid $75,000 on account for the merchandise purchased in 3. 8. Collected $68,750 from customers on account. 9. Recorded depreciation expense of $1,100 for the month on the equipment. Required: Analyze each transaction and show the effect of each on the accounting equation for a corporation