On a separate piece of paper, complete the following chart to show the effect of each transac¬ tion on the accounting equation. Transaction Assets = Liabilities + Stockholders’ Equity 1. Owners contributed $30,000 cash. 2. Purchased land for $20,000 cash. 3. Borrowed $9,000 cash from bank. 4. Provided services for $8,000 on account. 5. Paid $5,500 cash for expenses. 6. Paid $500 cash dividend to owners.