Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations a. Llta Lopez invested $70,000 cash and office equipment valued at $10,000 in the company b. The company purchased an ofmice suite for $40,000 cash. C. The company purchased orice equipment for $15,000 cash. d. The company purchased $1,200 of otmice supplies and $1,700 of office equipment on credit. e. The company paid a local newspaper $500 cash for printing an announcement of the ofmice's opening. f. The company completed a financial plan for a client and biled that client $2,800 for the service. g. The company designed a fnancial plan for another client and immediately collected a $4,000 cash fee h. Lita Lopez withdrew $3,275 cash from the company for personal use. i. The company recelved $1,800 cash as partial payment from the dlient descrbed in transaction f J. The company made a partial payment of $700 cash on the equipment purchased in transaction d K. The company paid $1,800 cash for the ofmice secretary's wages for this perlod. Required: 1. Enter the amount of each transaction on individual items of the accounting equation. (Reductions in account balances should be indicated with a minus sign. Cash + Office Accounts Receivable Supplies Equipment Suite Payable +Lopez, withdrawals | + Revenues" ite | | Payable! + Lopez, |L Lopez, Bal Bal Bal Bal Bal Bal Bal Bal Bal Bal 2. Determine the company's net income