For the following events, in the spaces provided, fill in the effect on net income on the Income Statement. Use:

+ for increase

– for decrease

0 for no net effect

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Transactions a. Employees worked for the week but will be paid next week b. Signed a note with the bank and received financing c. Purchased merchandise on credit; keep perpetual records in inventory d. Sold merchandise on credit at more than the cost e. Recorded depreciation on equipment f. Bought equipment, giving small down payment and signing note for the rest g. Paid off earlier credit purchase of merchandise h. Paid for rent used during the month į. Prepaid for several months of insurance; recorded with prepaid insurance account j. Collected amount for future delivery of magazines; recorded with unearned revenue account Net Income (Income Statement)