During 2017, Sunland Company entered into the following transactions. 1. Purchased equipment for $280,350 cash.
2. Issued common stock to investors for $137,900 cash
3. Purchased inventory of $73,900 on account
Using the following tabular analysis, show the effect of each transaction on the accounting equation. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary.
Assets =Liabilities + Stockholders' Equity
Cash+ Inventory + Equipment = Accounts Payable + Common Stock + Retained
Earnings
(1) $ $ $ $ $ $
(2)
(3)