During 2012, Gavin Corp. entered into the following transactions.1. Borrowed $60,000 by issuing bonds.2. Paid $9,000 cash dividend to stockholders.3. Received $13,000 cash from a previously billed customer for services provided.4. Purchased supplies on account for $3,100.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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Assets + Stockholders' Equity Common Retained Stock + Earnings Liabilities Accounts Accounts Bonds Cash + Receivable + Supplies Payable + ayable +