Which of the following statements is $($are$)$ correct regarding the Common Stock account?

Multiple select question.

The Common Stock account is increased on the left side of the T$-$account.

The Common Stock account is increased on the right side of the T$-$account.

The Common Stock account is used to record investments by the owner.

The Common Stock account is an equity account.

The Common Stock account is used to record purchases of assets.