Required information Assume Down, Inc., was organized on May 1 to compete with Despair, Inc.-a company that sells de-motivational posters and office products. Down, Inc., encountered the following events during its first month of operations. a. Received $60,000 cash from the investors who organized Down, Inc. b. Borrowed $20,000 cash and signed a note due in two years. c. Ordered equipment costing $16,000. d. Purchased $9,000 in equipment, paying $2,000 in cash and signing a six-month note for the balance. e. Received the equipment ordered in (c), paid for half of it, and put the rest on account. Required: 1. Summarize the financial effects of items (a)-(e) in a table. (Enter any decreases to account balances with a minus sign.) Assets Liabilities Stockholders' Equity Common Stock Cash Equipment 0 Accounts Payable 0 ST NotesLT Notes Payable Payable Beg. 0