Dr. Chris Evensen opened a medical practice specializing in physical therapy. During the first month of operation (May), the business, titled Dr. Chris Evensen, Professional Corporation (P.C.), experienced the following events: i (Click the icon to view the events.) Read the requirements Requirement 1. Analyze the effects of these events on the accounting equation of the medical practice of Dr. Chris Evensen, P.C. Begin with the first transaction on May 6. (Use parentheses or a minus sign when decreasing accounts. If a box is not used in the table leave the box empty; do not enter a zero. Enter the transactions in the same order as they appear in the original list.) Assets Liabilities Stockholders' Equity Accts Medical Accts Note Common Retained Type of Equity Cash Rec Supplies + Land Pay + Payable + Stock + Earnings Transaction May 6 9 12 15 15-31 15-31 More Info 31 31 May 31 Bal Total Requirement 2. After completing the analysis, answer these questions about the business. 6 Evensen invested $152,000 in the business, which in turn issued its common stock to her. 9 The business paid cash for land costing $62,000. Evensen plans to build an office building on the land. 12 The business purchased medical supplies for $1,900 on account. 15 Dr. Chris Evensen, P.C., officially opened for business. 15-31 During the rest of the month, Evensen treated patients and earned service revenue of $9,800, receiving cash for half the revenue earned. 15-31 The business paid cash expenses: employee salaries, $3,400; office rent, $700; utilities, $400. (Record the cash amount as a total and identify and record any other amounts separately.) 31 The business sold supplies to another physician for cost of $900 and received cash. 31 The business borrowed $40,000, signing a note payable to the bank. 31 The business paid $700 on account. a. How much are total assets? $ b. How much does the business expect to collect from patients? c. How much does the business owe in total? $ d. How much of the business's assets does Evensen really own? $ Print Done e. How much net income or net loss did the business experience during its first month of operations? (Enter the amount as a positive value) The business experienced of $ during its first month of operations