View Policies Current Attempt in Progress During 2022, its first year of operations as a delivery service, Sage Hill Corp. entered into the following transactions. 1. 2 3. 4. 5. Issued shares of common stock to investors in exchange for $88,000 in cash. Borrowed $39,600 by issuing a note. Purchased delivery trucks for $52,800 cash. Performed services for customers for $14,080 cash, Purchased supplies for $4,136 on account. Paid rent of $4,576. Performed services on account for $8.800 Paid salaries of $24,610. Paid a dividend of $9.680 to shareholders. 6. 7. B. 9. Using the following tabular analysis show the effect of each transaction on the accounting equation. Put explanations for changes to revenues or expenses in the right hand margin. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity Item that was reduced.) Question 2 of 3 Equipment Supplies Cash Accounts Receivable $ $ $ (1) $ (2) (3) (4) (5) (6) (7) (8) (9) $ $ S Revenues Accounts Payable + + Notes Payable Common Stock $ Expenses Dividends $ $ $