Madison Shoes manufactures athletic shoes and sports apparel. The following activities occurred during a recent year. The dollar amounts in (a) and (b) are presented "in millions," and the dollar amount in (c) is per share. When reporting amounts "in millions," exclude the 000,000. A. Purchased $228 in equipment; paid by signing a $4 long-term note and fulfilling the rest with cash. B. Issued $25 in additional common stock for cash contributions made by stockholders. C. Several Madison Shoes investors sold their own stock to other investors on the stock exchange for $170 per share of stock. Required: 1. For each of these events, perform transaction analysis and indicate the account, amount (in millions), and direction of the effect on the accounting equation. Check that the accounting equation remains in balance after each transaction. (Enter any decreases to account balances with a minus sign. Enter your answers in millions (l... 10,000,000 should be entered as 10).) Event Assets Liabilities Stockholders' Equitya. b.c. total 2. Which statement best describes transaction A. Transaction (doccurs between the owners and others in the stock market, there is no affect on the business. B. Transaction (occurs between the business and others in the stock market, it will affect the business. 3. Did these transactions change the extent to which Madison Shoes relied on stockholders versus creditors for financing A. Yes - the transactions affected liabilities and stockholders equity, and they led Madison Shoes to rely to a greater extent on creditors (versus stockholders). B. No - although the transactions affected liabilities and stockholders' equity, they did not change the proportion of financing from creditors and stockholders. C. Yes - the transactions affected liabilities and stockholders' equity, and they led Madison Shoes to rely to a greater extent on stockholders (versus creditors). D. No - the transactions had no effect on abilities or stockholders' equity