Alan Shaff recenty opened his own accounting fim on April 1, which he operates as a corporation. The name of the new entity is Alan Shaf, CPA. Shaff experienced the following events during the organizing phase of the new business and its first month of operations in 2018 alCick the icon to view the transactions.) Read the reauirements. Requirement 1. Analyze the effects of the evens on the accounting equation of Alan Shaff, CPA Analyze the events chronologicaly, one transaction at a time, beginning with the transaction on the 5th, For each transaction that folows the transaction on the 5th, caloulate the balance in oach account after analyzing ts effect on the accourding equation. Ater calculating he ending balanoe of each account on the 30th, caloulate total assets and total lablities and equity (Complete only the necessary answer boxes for your transacon ines Do not ines] Cary down all balances to the "Bal line, including zero balance acoounts, enteinga 0 for any zro balances Enter a decrease in an account with a minus sign or parentheses ABbreviations used: AP Accounts Payable AR Accounts Receivable: Com Common Contr Contributed, Div Dividends ExpExpense Fum Funtue Lib Lisblities Rev Revenue; Sup Saples UUtes) EQUITY ASSETS LIAB Contr. Retained Earnings Cap UN Service Rent Com Div Fum AP Cash A/R .Ofice Exp Exp Rev Stock Sup 4/5 4/6 + Bal. 47 Bal 4/10 , CPA Shaf experienced the following events d first month of operations in 2018 lCick the icon to view the transactions.) Read the requirements. 4/6 Bal, 4/7 Bal. 4/10 Bal. 4/11 Bal. 4/12 Bal. 4/18 Bal. 4/25 Bal. 4/27 Bal. 4/30 Bal Choose from any Ist or enter any number in the input fields and then continue to the next question, ++ Requirement 2. Prepare the financial statements, a, Income statement. (f a box is not used in the table leave the box empty; do not select a label or enter a zero.) Review the ending balances of the accounts from Requirement 1 Net Income a (f a box is not used in the ble ave tne bax ampay, o or tm Balance sheet. (Only include balance sheet accounts with a balance at April 30. [Do not include any zero-balance ac0Ounts Review the ending balances of the accounts from Requirement 1 Liabilities Assets Stockholders' Equity e fenm anr list or enter arv number in the innut fielrte and then continue to the next question ate the balance in ginning with n the 30th, alance acc iv. Divider More Info es for your transac or parentheses. Ab =Utilities.) 5 Shaff deposited $45,000 in a new business bank account titled Alan Shaff, CPA. The business issued common stock to Shaff. 6 Paid $450 cash for letterhead stationery for new office. 7 Purchased office furniture for the office on account, $7,500. Apr. B. 10 Consulted with tax client and received $3,800 for services rendered. P 11 Paid utilities, $340 12 Finished tax hearings on behalf of a client and submitted a bill for accounting services, $16,000. 18 Paid office rent, $900. 25 Received amount due from client that was billed on April 12. Paid full amount of accounts payable created on April 7. Cash dividends of $1,000 were paid to stockholders. 27 30 Print Done