Alan Shea recently opened his own accounting film, which he operates as a corporation. The name of the near entity is Alan Shea, CPA Shea experienced the following events during organizing phase of the new business and its first month of operations in 2016: Requirement 1. Analyze the effects of the events on the accounting equation of Alan Shea, CPA Analyze the events chronologically one transaction at a time. Beginning with the transaction on the 6th, calculate the balance In each account after analyzing the effect of the transaction on the accounting equation. Alter calculating the ending balance of each account on the 29th, calculate total assets and total liabilities and equity. (Complete only the necessary answer boxes for your transaction lines. [If a box is not used in the table leave the box empty; do not enter a zero for the transaction lines.] Carry down all balances to "Bal." line, including zero balance accounts, ordering a "0" for any zero balances. Enter a decrease in an account with a minus sign or parentheses. Abbreviations used A/P = A Payable; A/R = Accounts Receivable, Com = Common, Contr. = Contributed, Div. = Dividends, Exp. = Expense, Furn. = Furniture; Liab = Liabilities, Rev. = Revenue, Sup = Util. = Utilities.) Shea deposited $80,000 in a new business bank account titled Alan Shea, CPA The business issued common stock to Shea Paid $500 cash for letterhead stationery for now office Purchased office furniture for the office on account $7, 500 Consulted with tax client and received $4,000 for services tendered Paid Utilities $260 Finished tax hearings on behalf of a client and submitted a bill for accounting services. $12,000. Paid office rent, $750 Received amount due from client that was billed on February 12 Paid full amount of accounts payable created on February 7 Cash dividends of $3, 500 were paid to stockholders