Question: Identify the following for Events 1-4 based on Exercise 5-5A: the impact on the accounting equation, if and how it affects net income, and if

Identify the following for Events 1-4based on Exercise 5-5A: the impact on the accounting equation, if and how it affects net income, and if and how it affects cash. Refer to example attached. With your answers, you need to explain your reasoning and how you solved the problem.This is especially important for Events 3 and 4 because they involve contra-asset accounts.

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