pete painting service was organized as a corporation on january 20 2014 by three individuals each receiving 5000 shares of capital from the new company

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Required
1. Analyze the changes in this schedule for each transaction, and then explain the transaction. Transaction (a) is an example:
a. Cash increased $ 75,000, and Contributed capital (shareholders equity) increased $ 75,000. Therefore, transaction (a) was an issuance of shares of the corporation for $ 75,000 cash.
2. Based only on the preceding schedule after transaction (j), prepare a statement of earnings, a statement of shareholders equity, and a statement of financial position.
3. For each of the transactions, indicate the type of effect on cash flows (O for operating, I for investing, or F for financing) and the direction (+ for increase and  for decrease) and amount of the effect. If there is no effect, write none.The first transaction is provided as an example.

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