Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations.

1. Lita Lopez invested $67,000 cash and equipment valued at $31,000 in the company in exchange for its common stock.
2. The company purchased a building for $45,000 cash.
3. The company purchased equipment for $5,400 cash.
4. The company purchased $3,600 of supplies and $1,900 of equipment on credit.
5. The company paid $850 cash for advertising expenses.
6. The company completed a financial plan for a client and billed that client $4,300 for the service.
7. The company designed a financial plan for another client and immediately collected a $9,000 cash fee.
8. The company paid $1,500 cash in dividends to the owner (sole shareholder).
9. The company received $3,300 cash as partial payment from the client described in transaction f.
10. The company made a partial payment of $950 cash on the equipment purchased in transaction d.
11. The company paid $1,600 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.