Goal Systems, a business consulting firm, engaged in the following transactions:

a. Issued common stock for $75,000 cash.

b. Borrowed $35,000 from a bank.

c. Purchased equipment for $12,000 cash.

d. Prepaid rent on office space for 6 months in the amount of $7,800.

e. Performed consulting services in exchange for $6,300 cash.

f. Performed consulting services on credit in the amount of $18,750.

g. Incurred and paid wage expense of $9,500.

h. Collected $10,200 of the receivable arising from Transaction f.

i. Purchased supplies for $1,800 on credit.

j. Used $1,200 of the supplies purchased in Transaction i.

k. Paid for all of the supplies purchased in Transaction i.

Required:

For each transaction described above, indicate the effects on assets, liabilities, and stockholders' equity using the format below.

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Stockholders' Equity Assets Liabilities Contributed Retained Earnings Capital