Identify how each of the following separate transactions affects financial statements. For the balance sheet, identify how each transaction affects total assets, total liabilities, and total equity. For the income statement, identify how each transaction affects net income. For the statement of cash flows, identify how each transaction affects cash flows from operating activities, cash flows from financing activities, and cash flows from investing activities. For increases, place a “+” in the column or columns. For decreases, place a “-” in the column or columns. If both an increase and a decrease occur, place “+/-” in the column or columns. The first transaction is completed as anexample.

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Balance Sheet Statenent of Cash Flows Operating Financing Investing Activities Liab Total EquityIncome Activities Owner Invests cash in business 2Buys building by signing note payable 3Pays cash for salaries incurred 4 Prowdes services for cash 5 Pays cash for rent incurred Incurs utllties costs on credit 7Buys store equipment for cash 8 Owner withdraws cash 9 Provides services on credit 10 Collects cash on receivable from (9)