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On April $1,$ Sunland Travel Agency Inc. began operations. The following transactions were completed during the month:

Issued common shares for $$8,800$ cash.

Obtained a bank loan for $$23,800.$

Paid $$12,900$ cash to buy equipment.

Paid $$3,100$ cash for April office rent.

Paid $$3,350$ for supplies.

Purchased $$790$ of newspaper advertising on account.

Earned $$27,500$ for services performed: cash of $$3,900$ was received from customers, and the balance was billed to

customers on account.

Declared and paid $$590$ of dividends to shareholders.

Paid the utility bill for the month $$3,900.$

Paid the amount due for newspaper advertising in transaction $6.$

Paid $$290$ of interest on the bank loan obtained in transaction $2.$

Paid employees' salaries, $$8,300.$

Received $$15,800$ cash from customers billed in transaction $7.$

Paid income tax, $$3,400.$

$($a$)$

Prepare an equation analysis of the effects of the above transactions on the accounting equation. $($If a transoction results in a decrease in Assets, Liabilities or Shareholders' 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 $3\mathrm{.}16$ for example.$)$

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