Presented in the bar chart below are a company's total assets, total liabilities, and total stockholders' equity after each of five transactions in its first year of business. The bar on the left is total assets, and the stacked bar on the right includes total liabilities and total stockholders' equity. Beginning balances prior to Transaction 1 are $0. Answer the following questions: Assets, Liabilities, and Stockholders' Equity After Five Transactions $120,000 $100,000 $80,000 Assets Liabilities Stockholders' Equity $60,000 $40,000 $20,000 $0 Beg = $0 1 2 3 4 Transactions Click here to open the graphis) in a new tab. Required: 1. Transaction 1 depicts the issuance of common stock for cash. How does this transaction affect the accounting equation? 2a. How does Transaction 2 affect the accounting equation? 2b. Which of the following transaction descriptions is depicted by Transaction 2? 3a. How does Transaction 3 affect the accounting equation? 3b. Which of the following transaction descriptions is depicted by Transaction 3? 4a. How does Transaction 4 affect the accounting equation? 4b. Which of the following transaction descriptions is depicted by Transaction 4? 5a. How does Transaction 5 affect the accounting equation? 5b. Which of the following transaction descriptions is depicted by Transaction 5? 6. What is true after each of the five transactions?