Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations, a. Lita Lopez invested $65,000 cash and office equipment valued at $32,000 in the company in exchange for its common stock. b. The company purchased an office suite for $45,000 cash. c. The company purchased office equipment for $5,700 cash. d. The company purchased $3,200 of office supplies and $1,200 of office equipment on credit. e. The company paid a local newspaper $880 cash for printing an announcement of the office's opening. 1. The company completed a financial plan for a client and billed that client $4,200 for the service. g. The company designed a financial plan for another client and immediately collected a $8,800 cash fee. h. The company paid $1,400 cash in dividends to the owner (sole shareholder) i. The company received $3,200 cash as partial payment from the client described in transaction f j. The company made a partial payment of $600 cash on the equipment purchased in transaction d. k. The company paid $2,300 cash for the office 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.