From the book financial accounting for undergraduates third edition problem P2-11A use the following info to answer A and B below:

On December 1st, Peter Allen started career Services Inc, The following transactions took place during December:

1. Allen invested $7,000 in the business, receiving comman shares.

2. paid rent for December on furnished office space for $1,750

3. received invoice for December advertising $500

4. Borrowed $16,000 from a bank and signed a note payable for the amount

5. Received $1,200 for counseling services rendered for cash

6. Billed certain govermental agenices and other clients for counseling services for $6,800

7. paid secretary's salary for $2,200

8.paid December utilities for $910

9. paid stockholders a dividend of $900 cash

10. purchased land for cash to use as a site for a new facility for $13,000

11. paid $900 to the bank as December intrest on a note payable.

A. Set up an accounting equation in columnar form with the following column headings: Cash, Accounts Receivable, land, accounts payable, notes payable, common stock and Retained earnings.

B. show how the december transactions affect the items in the accounting equation and total all columns to show that assets equal liabilities plus stockholders'equity as of December 31st