Innovative Components experienced the following events during the current year: 1. Sold common stock to investors for $20 million cash. 2. Borrowed $40 million cash from a bank. 3. Purchased $2 million of inventory for cash. 4. Purchased $3 million of new equipment by signing a note payable. 5. Paid $4 million of cash dividends to shareholders. 6. Revenue for the year totaled $24 million, all received in cash. 7. Expenses incurred for the year totaled $14.0 million, all paid in cash. Indicate the effect each event would have on the balance sheet equation of Innovative Components by completing the spreadsheet that follows. ($ million) Assets Cash Inventory Equipment 4 20 Liabilities Bank loan payable Note ble Shareholders' Equity Common stock 20 Retained earnings Revenue Expenses Dividends