Madame Shira began a fortune telling business on May 1. The following transactions occurred: 1. Owner Madame Shana invested $15, 000 cash in the business. 2. Purchased $2, 500 of furniture with a down payment of $500: the rest to be paid in three monthly installments. 3. Paid $750 rent. 4. Purchased a crystal ball for $350. 5. Paid $1, 800 for a 12-month insurance policy. 6. During the first month received $2, 800 from cash customers. 7. Sent billings of $2, 400 for services rendered to credit customers. 8. Paid assistant $1, 900 wages for the month. 9. Received $900 in payments from credit customers. 10. Borrowed $3, 600 by signing a note. 11. Made a $500 payment on the furniture bill (from transaction 2). 12. Owner withdrew $500 cash for personal use. 13. Paid bills for advertising $70, utilities $39, and repairs $55. 1. Enter the above transactions in an accounting equation work sheet. 2. Prepare an income statement for Madame Shira for the month of May. 3. Prepare a statement of owner's equity for the month of May