Cornerstone Exercise 2-22 (Algorithmic) Transaction Analysis The Mendholm Company entered into the following transactions: a. Performed services on account, $12,400. b. Collected $8,200 from client related to services performed in Item a. c. Paid $1,500 dividend to stockholders. d. Paid salaries of $3,500 for the current month. Required: Show the effect of each transaction using the following model. If an amount box does not require an entry, leave the cells blank. Enter decreases in account values as negative numbers. If the effect of a transaction is to increase AND decrease the same item (i.e. Asset, Liability), enter "0" since the net effect on the item is zero. Assets Liabilities Stockholders' Equity Contributed Capital Retained Earnings a. b. c. d