Justin Smith began the Domino Answering Service in December of the prior year. The firm provides services for professional people and is currently operating with leased equipment. On January 1 of the current year, the assets and liabilities of the business were: Cash 54,400 Accounts receivable $6,900 Accounts payable $600. Notes payable $1,500 Assume that Retained Earnings as of January 1 of the current year were zero. The balance of Common Stock was $9,200. The following transactions occurred during the month of january: 1. Paid rent on office and equipment for january, $800. 2. Collected $4,500 on account from clients. 3. Borrowed $2,000 from a bank and signed a note payable for that amount. 4. Billed clients for work performed on account, $9,500. 5. Paid $400 on accounts payable. 6. Received invoice for January advertising, $550. 7. Paid january salaries, $33,800. 8. Paid january utilities, $430. 9. Paid stockholders a dividend of $2,600 cash. 10. Purchased fax machine (on January 31) for business use, $1,400. 11. Paid $30 to the bank as january interest on the outstanding note payable. Required: a.) Prepare a horizontal worksheet with the following individual assets, liabilities and stockholders' equity accounts; Cash, Accounts Receivable, Equipment, Accounts Payable, Notes Payable, Common Stock, and Retained Earnings. Enter the January 1 balances below each item. (Note: The beginning Equipment account balance is $0.) b.) Show the impact (increase or decrease) of the January transactions on the beginning balances, and total all columns to show that assets equal tiabilities plus stockholders' equity as of January 31