Delaney Consulting began operations and completed these transactions during the first half of March: (Click the icon to view the transactions.) Requirements 1. Analyse the effects of Delaney Consulting's transactions on the accounting equation. 2. Prepare the income statement of Delaney Consulting for the month ended 31 March 2016. 3. Prepare the statement of changes in equity for the month ended 31 March 2016. 4. Prepare the balance sheet at 31 March 2016. Data table - X equity (OE) 2 Received $17 000 cash and gave capital to Delaney. 2 Paid monthly office rent, $850. 3 Paid cash for a Dell computer, $2 340. This equipment is expected to remain in service for five years. 4 Purchased office furniture on credit, $3 840. The furniture should last for five years. 5 Purchased supplies on credit, $400. 9 Performed consulting service for a client on credit, $2 300. 12 Paid electricity and gas expenses, $260. equity (OE) 18 Performed service for a client and received cash of $1 000.