Net Income Analyzing Transactions Using the Financial Statement Effects Template Record the effect of each of the following independent transactions using the financial statements effects template provided. Confirm that Assets Liabilities - Equity for each transaction Note: Use a negative sign with your answers, when appropriate Balance Sheet Income Statement Transaction Cash Asset . Noncash Assets - Liabilities Contributed Capital. Earned Capital Revenue Expenses (1) Receive so in exchange for common stock (2) Borrow 5000 from bank, Purchase C1000 of supplies inventory on credit + (4) Receive E7500 cash from customers for services provided (5) Pay C1000 cash to supplier in transaction 3 16) Receive order for future services with 1750dvance payment 7 Pay 500 cash dividend to shareholders RI Pay employees 3000 cash for compensation earned. 19 Pay C250 cash for interest on loan in transaction 2 Totals 5 -S + + . . -- 5 5 Check