Analyzing Transactions using the Financial Statement Effects Template Report the effects for each of the following independent transactions using the financial statement effects template provided. Balance Sheet Income Statement Transaction Cash Asset + Noncash Assets = Liabilities + Contributed Capital + Earned Capital Revenue - Expenses = Net Income (a) Issue stock for $1,000 cash Answer 1000 + Answer = Answer + Answer 1000 + Answer Answer - Answer = Answer (b) Purchase inventory for $500 cash Answer -500 + Answer 500 = Answer + Answer + Answer Answer - Answer = Answer (c) Sell inventory from (b) for $2,000 on credit Answer + Answer = Answer + Answer + Answer Answer - Answer = Answer (d) Record $500 for cost of inventory sold in (c) Answer + Answer = Answer + Answer + Answer Answer - Answer = Answer (e) Receive $2,000 cash on receivable from (c) Answer + Answer = Answer + Answer + Answer Answer - Answer = Answer Totals Answer + Answer = Answer + Answer + Answer Answer - Answer =