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E3-3 Keystone Computer Timeshare Company entered into the following transactions during May 2017. 1. Purchased computers for $20,ooo from Data Equipment on account. 2. Paid $3,000 cash for May rent on storage space. 3. Received $15,000 cash from customers for contracts billed in April. 4. Performed computer services for Ryan Construction Company for $2,700 cash. Paid Midland Power Co. $11,0o0 cash for energy usage in May. 5. 6. Stockholders invested an additional $32,000 in the business. Paid Data Equipment for the computers purchased in (1) above. 8. Incurred advertising expense for May of $840 on account. Instructions Indicate with the appropriate letter whether each of the above transactions results in: (a) An increase in assets and a decrease in assets. (b) An increase in assets and an increase in stockholders' equity (e) An increase in assets and an increase in liabilities. (d) A decrease in assets and a decrease in stockholders' equity. (e) (t) (g) An increase in stockholders' equity and a decrease in liabilities. Analyze the effect of transactions. 7. A decrease in assets and a decrease in liabilities. An increase in liabilities and a decrease in stockholders' equity