Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month. During June, Ming Chen (the owner) completed these transactions. Exercise 1-13 Identifying effects of transactions using the accounting equation P1 a. Owner invested $60.000 cash in the company along with equipment that had a $15,000 market value in exchange for its common stock. b. The company paid S1.500 cash for rent of office space for the month. c. The company purchased $10,000 of additional equipment on credit (payment due within 30 days). d. The company completed work for a client and immediately collected the $2,500 cash earned. e. The company completed work for a client and sent a bill for $8,000 to be received within 30 days. f. The company pu g. The company paid an assistant $3,000 cash as wages for the month. h. The company collected $5,000 cash as a partial payment for the amount owed by the client in transaction e i. The company paid $10,000 cash to settle the liability created in transaction c J. The company paid $1,000 cash in dividends to the owner (sole shareholder) rchased additional equipment for $6,000 cash. Required Create the following table similar to the one in Exhibit 1.9 Assets Liabilities + Equity Cash + Accounts + Equipment = Accounts + Common - Dividends + Revenues - Expenses Receivable Payable Stock Check Net income $6.000 Then use additions and subtractions to show the dollar effects of the transactions on individual items the accounting equation. Show new balances after each transaction