ed k ces Problem 1-8A Analyzing effects of transactions LO P1, A1 Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $68,000 cash and office equipment valued at $40,000 in the company in exchange for its common stock. b. The company purchased an office suite for $46,000 cash. c. The company purchased office equipment for $5,400 cash. d. The company purchased $3,700 of office supplies and $1,900 of office equipment on credit. e. The company paid a local newspaper $850 cash for printing an announcement of the office's opening f. The company completed a financial plan for a client and billed that client $4,300 for the service. g. The company designed a financial plan for another client and immediately collected a $9,000 cash fee. h. The company paid $1,500 cash in dividends to the owner (sole shareholder). 1. The company received $3,300 cash as partial payment from the client described in transaction f J. The company made a partial payment of $950 cash on the equipment purchased in transaction d k. The company paid $1,900 cash for the office 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. Complete this question by entering your answers in the tabs below.