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During 2017, Oriole Company entered into the following transactions. 1.Purchased equipment for $308,520...

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Accounting

During 2017, Oriole Company entered into the following transactions.

1.Purchased equipment for $308,520 cash.2.Issued common stock to investors for $138,170 cash.3.Purchased inventory of $66,840 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.(If a transaction causes 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. See Illustration 3-3 for example.)

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