You will need to record each of the following transactions in the basic accounting equation (A = L + E). Make sure to label each account clearly, record the amount of the transaction, and place each transaction in the appropriate blank. This assignment is worth a total of 12 points. 1. You started your company with $100,000 that you raised by selling stock in Practice Makes Perfect Inc. to your family and friends. 2. Knowing that you would need additional funds, you presented your business plan to the bank and were able to get a $50,000 loan at 10 percent. 3. You purchased three pianos for $16,000 each, paying cash. You believe these pianos will last five years before you replace them. At the end of the five years, you think you can sell each piano for $1,000. 4. You spent $2,000 on supplies, which you charged on account