James Johnson engaged in the following activities in establishing his photography studio, Blossom: 1 . Opened a bank account in the name of Blossom and deposited $ 7,000 of his own money into this account in exchange for common stock. 2. Purchased photography supplies at a total cost of $900. The business paid $200 in cash, and the balance is on account. 3. Obtained estimates on the cost of photography equipment from three different manufacturers.