Presented below are three business transactions. On a sheet of paper, list the letters (a), (b), and (c) with columns for assets, liabilities, and stockholders’ equity. For each column, indicate whether the transactions increased (1), decreased (2), or had no effect (NE) on assets, liabilities, and stockholders’ equity.

  (a) Purchased supplies on account.
  (b) Received cash for providing a service.
  (c) Paid expenses in cash.