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Identify how each of the following separate transactions 1 through 10 affects financial statements. For increases, place a "+" and the dollar amount in the column or columns. For decreases, place a "-" and the dollar amount in the column or columns. Some cells may contain both an increase (+) and a decrease (-) along with dollar amounts. The first transaction is completed as an example. Required: a. For the balance sheet, identify how each transaction affects total assets, total liabilities, and total equity. For the income statement, identify how each transaction affects net income. b. For the statement of cash flows, identify how each transaction affects cash flows from operating activities, cash flows from investing activities, and cash flows from financing activities. Answer is complete but not entirely correct. a. b. Income Statement Net Income Balance Sheet Total Liabilities Total Assets +450 Transaction Total Equity +450 Statement of Cash Flows Operating Investing Financing Activities Activities Activities +450 1. 2. +250 +250 +250 +250 3. -370 -450 -450 X-450 4 +500 +500 5. +600 +600 Owner invests $450 cash in business in exchange for stock Receives $250 cash for services provided Pays $370 cash for employee wages Buys $500 of equipment on credit Purchases $600 of supplies on credit Buys equipment for $700 cash Pays $540 on accounts payable Provides $740 services on credit Pays $390 cash for dividends Collects $765 cash on accounts receivable 6. +/-700 -700 7 -540 -540 -540 8. +740 +740 -500 +740 -500 9 X x -500 X 10 +/-765 +765