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.

b.) The company purchased a building for $49,000 cash.

c.) The company purchased equipment for $5,700 cash.

d.) The company purchased $3,800 of supplies and $1,200 of equipment on credit.

e.) The company paid $880 cash for advertising expenses.

f.) The company completed a financial plan for a client and billed that client $4,600 for the service.

g.) The company designed a financial plan for another client and immediately collected a $8,500 cash fee.

h.) Lopez withdrew $1,100 cash from the company for personal use.

i.) The company received $3,600 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 $2,400 cash for the secretarys 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. Determine the company's net income