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Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations a. Lita Lopez invested $62,000 cash and equipment valued at $32,000 in the company in exchange for its common stock. b. The company purchased a building for $50,000 cash. c. The company purchased equipment for $5,900 cash. d. The company purchased $4,000 of supplies and $1,200 of equipment on credit. e. The company paid $980 cash for advertising expenses. f. The company completed a financial plan for a client and billed that client $4,100 for the service. g. The company designed a financial plan for another client and immediately collected a $8,200 cash fee. h. The company paid $1,600 cash in dividends to the owner (sole shareholder). 1. The company received $3,100 cash as partial payment from the client described in transaction f. J. The company made a partial payment of $600 cash on the equipment purchased in transaction d. k. The company paid $2,000 cash for the secretary's wages for this period. Required: 1. Enter the amount of each transaction on individual items of the accounting equation. 2. Determine the company's net income. Determine the company's net income