Lita Lopez invested $70,000 cash and office equipment valued at $10,000 in the company.

The company purchased an office suite for $40,000 cash.

The company purchased office equipment for $15,000 cash.

The company purchased $1,200 of office supplies and $1,700 of office equipment on credit.

The company paid a local newspaper $500 cash for printing an announcement of the office's opening.

The company completed a financial plan for a client and billed that client $2,800 for the service.

The company designed a financial plan for another client and immediately collected a $4,000 cash fee.

Lita Lopez withdrew $3,275 cash from the company for personal use.

The company received $1,800 cash as partial payment from the client described in transaction f.

The company made a partial payment of $700 cash on the equipment purchased in transaction d.

The company paid $1,800 cash for the office secretary's wages for this period

Accounts+ Accounts Payable L. Lopez, Office Supplies Office Cash Receivable . | + Office Suite L. Lopez, Revenues-Expenses Withdrawals Capital' a70,000+ 10,000 (40,000)+ 30,000 (15,000)+ 15,000 40.0001 = 40,000 15 10,000+ 15,000 25,000+ Bal Bal 40,000- 1,700 1200 1,200+ 26,700 26,700+ 26,700 26,700 Bal 15,000+ 40,000! Bal 15.000+ 1,200+ 40.0001 500 2,800+ Bal 15,000 2,800+ 1,200 0,000 500 4,000+ 19,000+ (3,275)+ 15.725 + References Bal 2,800+ 1,200+ 40.0001 500 3,275+ Bal 2,800+ 1,200 26,700+ 40,000 3,275+ 500 (1,800) Bal 15,725 1,000 1,200+ 26,700+ 40,000 3,275+ 500 (700)+ (700)+ Bal 1,000+ 26,700+ 15,725+ (1,800)+ 13.925| +| $ 1,200+ 40,000- 3,275+ 500 1,800 0$ 2,300 Bal.| $ 1.000| +ls 1.200|+| $ 26,700|+| $ 40,000:| $ (700)|+| $ 2. Determine the company's net income ncome 2,300