homework Saved Help Save & Exit Submit Check my work Required information Business Sim Corp. (BSC) issued 1,000 common shares to Kelly in exchange for $12,000. BSC borrowed $30,000 from the bank, promising to repay it in two years. BSC purchased computer equipment for $40,000, signing a six-month note for $5,000, and paying the balance with check number 101. BSC received $900 of supplies purchased on account. BSC's loan contains a clause (covenant) that requires BSC to maintain a ratio of current assets to current liabilities of at least 1.3. Required: 1. Identify the transactions and analyze their accounting equation effects. (Enter any decreases to account balances with a minus sign.) Assets Liabilities Stockholders' Equity 1. 2 3. 4. Totals 0 0