Pina Colada Corp. was started on May 1. A summary of May transactions is presented as follows. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. Stockholders invested $21,000 cash in the business in exchange for common stock. Purchased equipment for $4,000 cash. Paid $300 cash for May office rent. Paid $500 cash for supplies. Incurred $150 of advertising costs in the Beacon News on account Received $5,700 in cash from customers for repair service. Declared and paid a $1,100 cash dividend. Paid part-time employee salaries $1,000. Paid utility bills $140. Performed repair services worth $1,070 on account. Collected cash of $140 for services billed in transaction (10). Prepare a tabular analysis of the transactions, Revenue is called Service Revenue. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced. See Illustration 1-8 for example.) Assets Accounts Cash Receivable Supplies Equi 1. $ $ 2. 3. 4. 5. 6. N 7. 8. 6 10 11. $ $ Pina Colada Corp. Liabilities Accounts Common Equipment Payable Stock Revenu LA $ L- * Stockholders' Equity Retained Earnings Common Stock Revenues Expenses Dividends $ $