9 2. PROBLEM Kara Morris founded her dream business, called Kara's Kiteboarding Adventures. The following transactions occurred during June 2017, her first month of operations. a. Kara invested $15,000 cash into the business on June 1. b. Kara's Kiteboarding paid $400 to cover insurance for the month of June June 3, Kara's Kiteboarding purchased $12,000 worth of kiteboarding equipment on credit. d. June 6, the business rented additional kiteboarding equipment for $1,500 on account. e. June 9, the business provided lessons to a group of clients for $3.500 on account. f. June 14, the business collected $2,000 from its credit customers. g. Required The kiteboarding equipment purchased June 3, on credit was paid for June 28. 1. Analyze transactions 2. Journalize the Jun transaction 3. Prepare an Income statement for August 4. Prepare a statement of changes in Equity for Jun 5. Prepare a Balance Sheet as of Jun31 Analysis: Using your answer in Part 2, prove that the accounting equation balances at the end of June.