The Szakos Company Engaged in the Following Transactions During the Current

The Szakos Company engaged in the following transactions during the current year:
a) Acquired $50,000 of cash by issuing common stock to owners
b) Paid $10,000 to acquire manufacturing equipment
c) Paid $5,000 cash for materials used in production
d) Paid $2,000 for wages of production workers
e) Paid $8,000 in general, selling, and administrative costs
f) Recognized $1,000 of depreciation on the manufacturing equipment
g) Sold inventory for $18,000 cash
h) The cost of the inventory sold was $6,500
Required:
Show the balance sheet and income statement effects of the transactions by completing the financial statement model provided. $\begin{array}{|l|l|l|l|l|l|l|c|c|c|c|c|c|c|c|}\hline&&&&&\text { Balance Sheet }&&&&&&\text { Income Statement }\\\hline& \text { Cash } & +& \text { Invent. } & + &\text { Equip. } & = & \begin{array}{c}\text { Comm. } \\\text { Stk. }\end{array} & +&\begin{array}{c}\text { Ret. } \\\text { Eam. }\end{array} & \text { Rev. } & -&\text { Exp. }&=&\text { NI } \\\hline a)\\\hline b)\\\hline c)\\\hline d)\\\hline e)\\\hline f)\\\hline g)\\\hline h)\\\hline \text { Total }\\\hline\end{array}$