On September 1, Shawn Dahl established Whitewater Rentals, a canoe and kayak rental business. The following transactions occurred in the month of September and affected the following accounts:

Cash Accounts Payable Accounts Receivable Shawn Dahl, Capital Office Equipment Revenue Canoe and Kayak Equipment Expenses Transactions Shawn Dahl invested $45,100 in cash to open the business Paid $12,800 in cash for the purchase of kayak and canoe equipment Paid $1,100 in cash for rent expense Purchased additional kayak and canoe equipment for $3,850 on credit Received $3,950 in cash for kayak rentals Rented canoes and kayaks for $1,250 on account Purchased office equipment for $130 in cash Received $825 in cash from credit clients Shawn Dahl withdrew $1,550 in cash for personal expenses

Based on the information above, complete the following accounting equation. ASSETS =

Liabilities =

Owners Equity =