Larry Smith opens a dental practice. During the first month of operation (July), the practice, titled Larry Smith Dental Clinic Ltd, experienced the following events. Click the icon to view the events.) Requirements SU Dr. Ohara has the following questions about his practice after the first month of operations a. What are the total assets of the practice? $ b. How much is owing to the practice from patients? $ c. How much does the practice owe in total? $ d. How much of the practice's assets does Dr. Ohara have a claim to? $ e. How much net income did the practice earn? (Enter the amount as a positive value). The business experienced of during its first month of operations. Events 1 Jul. 6 Smith invested $40,000 in the business, which in turn issued its common shares to him 9 The business paid cash for land costing $27.000. Smith plans to build a professional services building on the land. 12 The business purchased dental supplies for $2,000 on account. 15 Larry Smith Dental Clinic Ltd. officially opened for business. 1531 During the rest of the month, Smith treated patients and earned service revenue of $7,600, receiving cash for half the revenue earned. 1531 The practice paid cash expenses: employee salaries, $1,500; office rent, $900; utilities, $950. 31 The practice used dental supplies with a cost of $600. 31 The practice borrowed $10,000, signing a note payable to the bank. 31 The practice paid $600 on account to a supplier