Dawn Rehearse owns and operates an accounting firm called Dawn D. Rehearse, CPA & Associates. During January 2022, the business completed the following transactions: a. Rehearse invested cash $15,000 in the business. b. Performed accounting service for a client and received cash of $500. c. Paid off the beginning balance of accounts payable. d. Purchased supplies from OfficeMax on account, $500. e. Collected cash from a customer on account, $1,000. f. Received cash investment of $5,000 cash from D. Rehearsal. g. Consulted for a new client and billed the client for services rendered, $3,500. h. Recorded the following business expenses for the month: Paid office rent, $3,000. Paid advertising, $1,500. i. Made partial payment to OfficMax for $250 cash from item d. j. Rehearse withdrew cash of $2,500. Required: 1. Analyze the effects of the preceding transactions on the accounting equation, using the format on the next page. Note: Pay special attention to the beginning balances. 2. Calculate the net income for th month ended January 31, 2022