Hello. There is a question that I am stuck at, I have no clue how to do it. It is LONG

Accounting Transactions Hair Today:

Charlene Jacksons business, Hair Today, has been operating in Auckland for the month of February 2020. It is set up as a sole trader. You call in for a haircut, and while she is trimming your hair, she tells you how business is going. I think its going very well, she says. Last time I went to the bank there were a lot of deposits. There were cash deposits of $100, $110, $105 and so on, totalling exactly $10,500 for February, the first months business. These dont include the $500 still owed me for haircuts provided to the builders working on the new Recreation Centre at the University and the $1,000 prepaid by staff at the nearby office block. Of course the bank account also includes the $25,000 of savings that I put into the business when I started it up and the $10,000 loan that the bank gave me. Not to mention the balance of $20,000 in my personal savings account that I can always use, if necessary. I have spent $12,000 on the furniture and equipment for the business, $9,500 on hairdressers supplies and then there is the lease of this place. It is a TWO-year lease, but I paid six months rent in advance (from February to July), thats $5,400 and a lease deposit of $2,000 that I can get back. The furniture and equipment should last 5 years with no residual value. Straight-line depreciation method is used. And the supplies, well I still have $4,000 worth unopened and sitting in the storeroom. I also get a cleaning company to come and do the floors; they charge $25 a week. I havent had to pay them anything yet, and I still owe them for four weeks work. Oh, theres Marama. I just hired her yesterday at a salary of $2,000 per month. Todays her first day of work. I also drew out $300 in cash to take my sister out to dinner on her birthday

Required: (a) Prepare a worksheet using the template in the Answer workbook showing how the above accounting events will affect the Balance Sheet Equation. Note: calculate one months depreciation on the furniture and equipment. Ignore tax. (b) Prepare an Income Statement for the month of February 2020 and a Balance Sheet as at 29 February 2020 using the template in the Answer booklet.