The Marchetti Soup Company entered into the following transactions during the month of June: (1) purchased inventory on account for $210,000 (assume Marchetti uses a perpetual inventory system); (2) paid $53,000 in salaries to employees for work performed during the month; (3) sold inventory on account to customers for $265,000 that had a cost of $146,000; (4) collected $245,000 in cash from credit customers; and (5) paid on account to suppliers of inventory $190,000.

Analyze each transaction and show the effect of each on the accounting equation for a corporation.