Spring 2023 ark Chapter 1 Homework ist Question 2, S1-10 (book/static) Part 1 of 8 Stefany Conrado Stemmer 02/15/23 12:23 AM HW Score: 5.58%, 2.4 of 43 points O Points: 0 of 4 Save Elaine's Inflatables eams service revenue by providing party planning services and inflatable playscapes. Elaine's inflatables is organized as a sole proprietorship and owned by Elaine Gibson During the past month, Elaine's Inflatables has the following transactions (Click the icon to view the transactions.) Indicate the effects of the business transactions on the accounting equation for Elaine's Inflatables. Transaction (a) is answered as a guide Gibson contributed $10,000 to the business in exchange for capital (Transaction (a) is answered as a guide.) a. Increase asset (Cash) b. Purchased equipment for $5,000 on account b Increase equity (Gibson Capita