Bev's Dry Cleaners is owned and operated by Beverly Zahn. A building and equipment are currently being rented, pending expansion to new facilities. The actual work of dry cleaning is done by another company at wholesale rates. The assets and the liabilities of the business on November 1, 2016, are as follows: Cash, $39,000; Accounts Receivable, $80,000; Supplies, $11,000; Land, $50,000; Accounts Payable, $31,500. Business transactions during November are summarized as follows: A. Beverly Zahn invested additional cash in the business with a deposit of $21,000 in the business bank account. B. Purchased land adjacent to land currently owned by Bev's Dry Cleaners to use in the future as a parking lot, paying cash of $35,000. C. Paid rent for the month, $4,000. D. Charged customers for dry cleaning revenue on account, $72,000. E. Paid creditors on account, $20,000. F. Purchased supplies on account, $8,000. G. Received cash from cash customers for dry cleaning revenue, $38,000. H. Received cash from customers on account, $77,000. I. Received monthly invoice for dry cleaning expense for November (to be paid on December 10), $29,450. J. Paid the following: wages expense, $24,000; truck expense, $2,100; utilities expense, $1,800; miscellaneous expense, $1,300. K. Determined that the cost of supplies on hand was $11,800; therefore, the cost of supplies used during the month was $7,200. L. Withdrew $5,000 for personal use. Required: 1. Determine the amount of Beverly Zahn's capital as of November 1 of the current year. 2. State the assets, liabilities, and owner's equity as of November 1 in equation form similar to that shown in this chapter. A. Enter the balance for November 1 in the first Bal row. B. In each transaction row (rows indicated by a letter), indicate increases and decreases resulting from each transaction. (You can click on the letter for the transaction description.) In columns effected by the transaction: Enter the math sign (+ or -) in the left-hand cell of the column. Enter the amount in the right-hand cell of the column. (Do NOT use a plus or minus in the same cell that you enter the amount. Entering a minus sign will produce an error Input out of range. C. In the Bal row following each transaction row, enter the new balance. 3. Prepare an income statement for November, a statement of owner's equity for November, and a balance sheet as of November 30.* 4. Prepare a statement of cash flows for November.* * Refer to the Accounts in the accounting equation grid and to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Enter amounts that represent cash outflows as a negative number using a minus sign. You will not need to enter colons (:) or the word Deduct on the statements.