What impact will each of the following have on profit for the period and total assets? 

(i). Purchase inventory on credit for $20 000. 

(ii). Sell goods on credit for $30 000 (cost of goods sold was $14 000). 

(iii). Pay accounts payable of $20 000. 

(iv). Receive $30 000 from accounts receivable. 

(v). Pay $10 000 for wages during the period, and owe $2000 for other work done during this period that will not be paid to next period. 

(vi). Issue share capital of $50 000 

(vii). Declare and pay dividends of $5000.