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.