Describe how each of the following transactions of Lucent Technologies Inc. would affect the three elements of its accounting equation.
a. Paid dividends.
b. Made cash sales.
c. Received cash from issuing stock.
d. Paid long-term debt.
e. Received proceeds from selling a portion of manufacturing operations for a gain on the sale.
f. Received cash from the issuance of long-term debt.
g. Paid taxes.
h. Paid research and development expenses for the current year.
i. Paid employee pension expenses for the current year.
j. Purchased machinery and equipment for cash.
k. Paid officer salaries.
l. Paid selling expenses.