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value 200 points E3-7 Determining Accounting Equation Effects and Net Income LO 32, LO 33] The following transactions occurred during a recent year a Paid wages of $1,750 for the current period (example). b. Borrowed $8,750 cash from local bank using a short-term nole c. Purchased $3,500 of equipment on credit d. Eamed $700 of sales revenue; collected cash. e. Received $1,400 of ublities services, on credit. f. Eamed $2,950 of service revenue, on credit g Paid $525 cash on account to a supplier h. Incurred $120 of travel expenses, paid cash. i. Earned $700 of service revenue, collected half in cash, with balance on credit Collected $200 cash from customers on account Incurred $500 of advertising costs; paid half in cash, with balance on credit Required: 1. For each of the transactions, complete the table below, indicating the account, amount, and direction of the effect + for increase and for decrease) of each transaction under the accrual basis Include revenues and expenses as subcategories of stockholders' equity, as shown for the first transaction, which is provided as an example. Also, determine the company's preliminary net income. (Enter any decreases to account balances with a minus sign.)