Brief Exercise 2-1 (Static) Transaction analysis (LO2-1) The Marchetti Soup Company entered into the following transactions during the month of June (1) purchased inventory on account for $165,000 (assume Marchetti uses a perpetual inventory system): (2) paid $40,000 in salaries to employees for work performed during the month: (3) sold merchandise that cost $120,000 to credit customers for $200,000: (4) collected $180,000 in cash from credit customers; and (5) paid suppliers of inventory $145,000. Analyze each transaction and show the effect of each on the accounting equation for a corporation, (Amounts to be deducted should be indicated by a minus sign. Enter the net change on the accounting equation.) Assets Liabilities Paid-in capital Retained Earnings (1) (2) (3) (4)