Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. a. Lita Lopez invested $66,000 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 $46,000 cash. c. The company purchased office equipment for $6,000 cash. d. The company purchased $3,700 of office supplies and $1,300 of office equipment on credit. e. The company paid a local newspaper $860 cash for printing an announcement of the office's opening. f. The company completed a financial plan for a client and billed that client $4,800 for the service. g. The company designed a financial plan for another client and immediately collected a $8,500 cash fee. h. The company paid $1,000 cash In dividends to the owner (sole shareholder). 1. The company received $3,800 cash as partial payment from the client described in transaction f. J. The company made a partial payment of $650 cash on the equipment purchased in transaction d. k. The company paid $1,900 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. Complete this question by entering your answers in the tabs below. Required 1 1 Required 2 Enter the amount of each transaction on individual items of the accounting equation. (Reductions in account balances should be indicated with a minus sign.) Liabilities Equity Assets Office Supplies Accounts Receivable Cash Office Equipment + Office Suite = Accounts Payable + Common Stock Dividends + Revenues Expenses a. a + + b. + + = + + Bal. + + + + + + - 1 Ball + + + + + + d. Bal. + + + + + + Bal. + + + + f. + + + + + + Bal. + + + + + + Ball + + + + + + + h. Bal. + + + + + i. + + Bal. + + + + + J. + + + Bal. + + k k. + + Bal. + +