Transactions On April 1 of the current year, Morgan Jones established a business to manage rental property. She completed the following transactions during April Opened a business bank account with a deposit of $97,000 in exchange for common stock b. Purchased office supplies on account, $2,100. c. Received cash from fees canned for managing rental property, 15,800 d. Pald rent on office and equipment for the month, $2,570 e Pall creditors on a $950. tied customers for fees canned for managing rental property, 44,760 9. Pald automobile expenses for month, $570, and miscellaneous expenses, $200. Paid office salaries, $1,010 L Determined that the cost of supplies on hand was $1.240; therefore, the cost of supplies used was $600 1. Pald dividends, $1,710 Required: 1. Indicate the effect of each transaction and the balances after och transaction For those bones in which no entry is required, leave the box blank For those bones in which you must enter subtractive or negative numbers use a minus sign. (Bample:-300) Assets Liabilities Stockholders' Equity Accounts Accounts Common Item Cash Fees Rent Sal, Supp Auto Misc. Receivable + Supplies - - Dividends + Payable Item Stock Earned. Expense Expense Expense Expense pense Bal c Bal d. Bal e Bal. Bal Bal h. L Bal Bal 2. Stockholders' equity is the right of stockholders (owners) to the assets of the business. These rights are by dividends and expenses 3. Determine the net income for April $ by suing common stock and revenues and 4. How much did Aprif's transactions increase or decrease stockholders' equity by