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Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. Lita Lopez invested $ 7 0

Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations.
Lita Lopez invested $70,000 cash and equipment valued at $31,000 in the company in exchange for its common stock.
The company purchased a building for $47,000 cash.
The company purchased equipment for $5,800 cash.
The company purchased $3,600 of supplies and $1,400 of equipment on credit.
The company paid $910 cash for advertising expenses.
The company completed a financial plan for a client and billed that client $4,900 for the service.
The company designed a financial plan for another client and immediately collected a $8,100 cash fee.
The company paid $800 cash in dividends to the owner (sole shareholder).
The company received $3,900 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 $2,400 cash for the secretarys wages for this period.
Required:
Enter the amount of each transaction on individual items of the accounting equation.
Determine the company's net income.

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