Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. Lita Lopez invested $68,000 cash and office equipment valued at $31,000 in the company in exchange for its common stock. The company purchased an office suite for $45,000 cash. The company purchased office equipment for $5,800 cash. The company purchased $3,300 of office supplies and $1,400 of office equipment on credit. The company paid a local newspaper $930 cash for printing an announcement of the offices opening. The company completed a financial plan for a client and billed that client $5,000 for the service. The company designed a financial plan for another client and immediately collected a $8,700 cash fee. The company paid $1,500 cash in dividends to the owner (sole shareholder). The company received $4,000 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 $1,600 cash for the office secretarys wages for this period. Required: 1. Enter the amount of each transaction on individual items of the accounting equation. 2. Determine the company's net income.