Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $61,000 cash and equipment valued at $36,000 in the company in exchange for its common stock. b. The company purchased a building for $42,000 cash. c. The company purchased equipment for $5,700 cash. d. The company purchased $3,800 of supplies and $1,800 of equipment on credit. e. The company paid $990 cash for advertising expenses. f. The company completed a financial plan for a client and billed that client $4,400 for the service. g. The company designed a financial plan for another client and immediately collected a $8,200 cash fee. h. The company paid $1,800 cash in dividends to the owner (sole shareholder). i. The company received $3,400 cash as partial payment from the client described in transaction f. j. The company made a partial payment of $900 cash on the equipment purchased in transaction d. k. The company paid $2,200 cash for the secretary's 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.