During 2014, Comstock Company entered into the following transactions.
Purchased equipment for $286,176 cash.
Issued common stock to investors for $137,590 cash.
Purchased inventory of $68,480 on account.
Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders€™ Equity in the right-hand margin. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. Use Illustration 3-3 (page 110) as amodel.

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Liabilities Stockholders' Equity Common Retained Cash Inventory Equipment Payable Stock Earnings Assets Accounts