The transactions for the Newman Company are below:

1. The owners invested $10,000 cash in the company.

2. The company acquired equipment that cost $8,000. 25% was paid in cash and the rest was settled with a

note.

3. The company acquired $2,800 of inventory and paid cash.

4. The company acquired $600 of supplies on account.

5. The company sold merchandise for $1,800 on account. The inventory had a cost of $1,000.

6. The company received $400 from Transaction #5.

7. The company paid $300 on accounts payable.

Required:

Prepare an analysis of Newman Company's transactions using the equation approach.