During 2014, Comstock Company entered into the following transactions.

1. Purchased equipment for $286,176 cash.

2. Issued common stock to investors for $137,590 cash.

3. Purchased inventory of $68,480 on account.

Using the following tabular analysis, show the effect of each transaction on the accounting equation. Put explanations for changes to Stockholders' Equity in the right-hand margin. For Retained Earnings, use separate columns for Revenues, Expenses, and Dividends if necessary. Use Illustration 3-3 (page 110) as a model.

Assets = Liabilities + Stockholders' Equity

Cash +Inventory + Equipment = Accounts Payable + Common Stock + Retained Earnings