### Using the balance sheet equation

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Using the balance sheet equation, show how each of the following six events would affect the balance sheet of Fernandez & Co. The sale of common stock to investors for \$5 million in cash, the sale of a new bond issue to investors for \$10 million cash, the purchase of \$500,000 of inventory for cash, the purchase of \$700,000 of equipment using bank financing, the payment of \$100,000 cash for income taxes associated with last year’s operations, the CFO determine that net income for the most recent month was \$2 million.

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