Transaction Assets = Liabilities + Stockholders' Equity Beginning $0 $0 $0 2. Borrow cash 3. Purchase equipment 4. Revenues earned 6. Dividends The owners invested $17,160 cash into the business in exchange for shares of common stock in Thomas Company The company borrows $7,740 cash from the local bank. The company pays cash for a piece of equipment. The list price was $9,100, but after negotiation, the final purchase price was $8,700 During the year, Thomas Company earned revenues totaling $298,400. The cash has been collected from the customers for all revenue earned this year Thomas Company incurred expenses totaling $211,700 during that same year. All of the expenses incurred this year were paid in cash. At the end of each quarter, Thomas Company distributed cash to its stockholders. The sum of those quarterly distributions was $15,400