P-2 . Selected transactions for Fabulous Flora Company are listed below. 1. Made cash investment to start business. 2. Purchased equipment on account. 3. Paid salaries. 4. Billed customers for services performed. 5. Received cash from customers billed in (4). 6. Withdrew cash for owner's personal use. 7. Incurred advertising expense on account. 8. Purchased additional equipment for cash. 9. Received cash from customers when service was performed ANS EXAMPLE Assets Liabilities Owners Equity 1 Cash(+) NC OC(+) P3 A Hal Smith opened Smith's Repairs on March 1 of the current year. During March, the following transactions occurred and were recorded in the company's books: 1. Smith invested $25,000 cash in the business. 2. Smith contributed $100,000 of equipment to the business. 3. The company paid $2,000 cash to rent office space for the month. 4. The company received $16,000 cash for repair services provided during March. 5. The company paid $6,200 for salaries for the month. 6. The company provided $3,000 of services to customers on account. 7. The company paid cash of $500 for monthly utilities. 8. The company received $3,100 cash in advance of providing repair services to a customer. 9. Smith withdrew $5,000 for his personal use from the company. Based on this information, the balance in Hal Smith, Capital reported on the Statement of Owner's Equity at the end of March would be