Chap 2 HW (graded) Help Save & Exit Submit Check my work E2-5 (Algo) Determining Financial Statement Effects of Several Transactions LO 2-1, 2-3 Cannon Sporting Goods is one of the world's leading manufacturers of athletic shoes and sports apparel. The following activities occurred during a recent year. The amounts are rounded to millions, except for par value. points ebook Hint a. Purchased additional buildings for $178 and equipment for $280: paid $404 in cash and signed a long-term note for the rest. b. Issued 120 shares of $2 par value common stock for $350 cash. c. Declared $145 in dividends to be paid in the following year. d. Purchased additional short-term investments for $7,716 cash. e. Several Cannon Sporting Goods investors sold their own stock to other investors on the stock exchange for $84, [ Sold $4,113 in short-term investments for $4,113 in cash. Print References Required: For each of the events (a) through (1. perform transaction analysis and indicate the account, amount and direction of the effect (+ for increase and for decrease) on the accounting equation. Check that the accounting equation remains in balance after each transaction (If no impact on the accounting equation leave cells blank. Enter your answers in millions.) Assets + Stockholders' Equity Event a. Liabilities Notes payable long-term) 54 Buildings Equipment Cash Tcash 178 280 (404) 350 b. Common stock Additional paid in capital Dividends payable 145 Retained earnings