Exercise 1-23 Financial statements LOB CHECK FIGURE: All Omar, Capital, March 31, 2020 - $20.200 Using your answer from Exercise 1-22, prepare an income statement, statement of changes in equity, and bal- ance sheet for March 2020. Analysis Component: Review Omar's income statement. Does the profit of $900 represent $900 of cash? Explain MISU ueny te du us) for each Exercise 1-22 Effects of transactions on the accounting equation 106,7 eXcel CHECK FIGURE: Accounts payable, March 31, 2020 = $2,350 a. Ali Omar invested $4,300 cash and $15,000 of equipment to start his business, Omar's Yard Care. b. Purchased various supplies on account: $1,600. c. Bought supplies on credit; $950. d. Omar signed a $4,000 contract to do yard work beginning in May. e. Did work for a client on account: $550. f. Performed services for a customer on credit; $600. g. Paid $200 for the supplies purchased in (c). h. Paid $250 for advertising online. i. Collected the amount owed from the customer in (f)