Dr. Rebecca Gray opened a medical practice specializing in physical therapy During the first month of operation (December), the business, titled Dr. Rebecca Gray, Professional Corporation (PC), expenenced the following events: (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. Rebecca Gray, P.C. Begin with the first transaction on December 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 originail list.) Assets Liabilities. Stockholders Equity Accts Medical AcctsNteCommon Retained Type of Equity Cash Rec SuppliesLandPay. Payable Stock Eamings Transaction Dec 6 More Info 15-31 15-31 Gray invested $151,000 in tne business, which in turn issued its common stock to her 9 The business paid cash for land costing $58,000. Gray plans to build an office building on 31 31 31 the land. 12 The business purchased medical supplies for $2,200 on account 15 Dr. Rebecca Gray, PC, officialy ocened for business 15-31 During the rest of the month, Gray treated patients and earned service revenue of $9,400 Bal receiving cash for half the revenue earned. 15-31 Tne business paid cash expenses: employee salaries, 53,000; office rent, $1,000; utlities, Total Requirement 2. After completing the analysis, answer these questions about the business. a. How much are total assets? S b. How much does the business expect to collect from patients? c. How much does the business owe in total? S d. How much of the business's assets does Gray really own? e. How much net income or net loss did the business experience during its first month of operations? (Enter the amount as a positve value) The business experienced $1,300. (Record expenses as a total amount.) 31 The business sold supplies to another physician for cost of $200 and received cash. 31 The business borowed $30,000, signing a note payable to the bank 31 The business paid $1,00D on account Print Done of S during its first month of operations