5 Check my work Lite Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations 16 a. Lita Lopez invested $63,000 cash and equipment valued at $34,000 in the company in exchange for its common stock,** lock 2 b. The company purchased a building for $41,000 cash. c. The company purchased equipment for $5,400 cash. d. The company purchased $3,200 of supplies and $1,800 of equipment on credit e. The company paid $870 cash for advertising expenses f. The company completed a financial plan for a client and billed that client $4,400 for the service g. The company designed a financial plan for another client and immediately collected a $8,000 cash fee. h. The company paid $1,100 cash in dividends to the owner (sole shareholder) 1. The company received $3,400 cash as partial payment from the client described in transaction f J. The company made a partial payment of $900 cash on the equipment purchased in transaction d k. The company paid $2,200 cash for the secretary's wages for this period Required: 1. Enter the amount of each transaction on individual items of the accounting equation. 2. Determine the company's net income. Complete this question by entering your answers in the tabs below. 5 Assets Cash + Accounts Receivable Supplies + 6 b. + + points Balance after a and b + + C . + +Book Balance after c . Print d. References Balance after d + + Balance after e t Balance after f D. Balance after g h Balance after h Balance after i . Liabilities Equipment + Building Accounts Payable Common Stock + + + + + + . BOO . . TO + + . . . + . Liabilities Accounts Payable + + + + Common Stock Equity - Dividends + Revenues - Expenses I I - - I + + - + + + + + + + + + + - - - + + + + + + + + + - + + - - - + - + + + + + + + + +