After researching the different forms of business organization. Natalie Koebel decides to operate "Cookie Creations as a proprietorship. She then starts the process of operating the business. In November 2022, the following activities take place Nov. 8 Natalie cashes her US Savings Bonds and receives $520, which she deposits in her personal bank account She opens a bank account under the name "Cookie Creations and transfers $500 from her personal account to the new 8 account 11 13 14 16 Natalie pays $65 for advertising She buys baking supplies, such as flour, sugar, butter, and chocolate chips, for $125 cash. (Hint: Use the Supplies account.) Natalie starts to gather some baking equipment to take with her when teaching the cookie classes. She has an excellent top-of-the-line food processor and mixer that originally cost her $750. Natalie decides to start using it only in her new business. She estimates that the food processor is currently worth $300. She invests the food processor in the business. Natalie realizes that her initial cash investment is not enough. Her grandmother lends her $2,000 cash for which Natalie signs a note payable in the name of the business. Natalie deposits the money in the business bank account. (Hint: The note will be repaid in 24 months. As a result, the note payable should be reported in the accounts and the balance sheet as the last liability) She buys more baking equipment for $900 cash. She teaches her first class and collects $125 cash Natalie withdraws $100 from the business for personal expenditures. Natalie pays $1.320 for a one-year insurance policy that will expire on December 1, 2023. 17 20 25 30 Assets Cash Supplies Prepaid Insurance Equipm Nov. 8 $ 520 S $ 11 13 14 16 17 20 25 30 Totals $ + $ $ + Liabilities Owne Equipment Notes Payable Owner's Capital Owner's Drawings $ $ $ 520 $ I $ A Owner's Equity Owner's Capital Owner's Drawings Revenues Expenses 520 $ $ + 16 $ $ Compute net income for the month. Net income $ e Textbook and Media Compute the total assets, total liabilities, and total owner's equity at November 30. Total assets $ Total liabilities $ Total owner's equity $ e Textbook and Media