Transactions made by Windsor, Inc., a law firm, for the month of March are shown as follows. 1. The company performed $47,500 of services for customers, on credit. 2. The company received $47,500 in cash from customers who had been billed for services (in transaction 1). 3. The company received a bill for $2,300 of advertising, but will not pay it until a later date. 4. The company paid a dividend of $7,000 in cash to stockholders. Assets Cash Accounts Receivable = Accounts Payable 1) $ 2) $ 5 5 $ 3) $ $ $ 4) $ Stockholders' Equity Retained Earnings $ $ 5 5