All Omar opened a yard care business, Omar's Yard Care, on March 1, 2023. The following activities occurred during his first month of operations: a. All Omar invested $5,400 cash and $20,500 of equipment to start his business, Omar's Yard Care. b. Purchased various supplies on account; $2,700. c. Bought supplies on credit: $1,060. d. Omar signed a $5,100 contract to do yard work beginning in May. e. Did work for a client on account $660. f. Performed services for a customer on credit: $1,150. g. Paid $310 for the supplies purchased in (c). h. Paid $360 for advertising online. i. Collected the amount owed from the customer in (f). Prepare an income statement, statement of changes in equity, and balance sheet for March 2023. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ OMAR'S YARD CARE } \\ \hline \multicolumn{2}{|c|}{ Statement of Changes in Equity } & \\ \hline For Month Ended March 31, 2023 & & \\ \hline Ali Omar, capital, March 1 & & \\ \hline & & $ \\ \hline Ali Omar, capital, March 31 & $ & 0 \\ \hline \end{tabular} Analysis Component: Does the profit of $1,450 represent $1,450 of cash? Yes No