Matilda Crone owns and operates a public relations firm called Dance Fever, Inc. The following amounts summarize her business on August 31, 2012:

During September 2012, the business completed the following transactions:
a. Issued common stock and received cash of $13,000.
b. Performed service for a client and received cash of $900.
c. Paid off the beginning balance of accounts payable.
d. Purchased supplies from OfficeMax on account, $600.
e. Collected cash from a customer on account, $00.
f. Received cash of $1,600 and issued common stock.
g. Consulted for a new band and billed the client for services rendered, $5,500.
h. Recorded the following business expenses for the month:
1. Paid office rent, $1,200.
2. Paid advertising, $600.
i. Returned supplies to OfficeMax for $110 from item d, which was the cost of the supplies.
j. Paid cash dividends of $2,000.
Requirement
1. Analyze the effects of the preceding transactions on the accounting equation of
Dance Fever. Adapt the format to that of Exhibit1-6.

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Stockholders' equity Assets Liabilities Accounts receivable Accounts Common stock Retained Cash Land Supplies + carnings 7,100 Date %3! payable 1,800 3,000 Bal 2,300 14,000 8,000