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

1. Shawn Dahl invested $44,000 in cash to open the business
2. Paid $11,700 in cash for the purchase of kayak and canoe equipment
3. Paid $2,050 in cash for rent expense
4. Purchased additional kayak and canoe equipment for $4,800 on credit
5. Received $4,900 in cash for kayak rentals
6. Rented canoes and kayaks for $2,200 on account
7. Purchased office equipment for $225 in cash
8. Received $1,300 in cash from credit clients
9. Shawn Dahl withdrew $2,500 in cash for personal expenses

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

Assets = Liabilities + Owner's Equity