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Abby Pivone fecently opened her own law office on March 1. which she operates as a sole propeistorship. The name of the new enfity is Abby Pivone, Attorney Pwone experienced the following events during the organizing phase of the new business and its first month of operation, March 2024 , Some of the events wer personal and did not affect the law practice. Others were business transactions and should be accountod for by the business (1) (Click the icon to view the transactions) Read the requirements More info Requirements 1. Analyze the etiects of the preceding events on the accounsing equation of Abby Plvone. Altorney. 2. Prepare the following financial statements: a. Income statement for the month ended March 31, 2024 b. Statement of owner's equity for the month ended Match 31, 2024 c. Balance sheet as of March 31, 2024 . d. Statement of cash flows for the month ended March 31, 2024 3. Calculate Abby Piwone, Atoiney's return on assets. Round to the nearest whole percent Requirement 1. Analyze the effects of the preceding events on the accounting equafion of Abby Pivone, Attorney. Analyze the events chronologically, one transaction at a time, beginning with the transaction on the 1 st. For each transaction that follows the transaction on the 2nd, calculate the balance in each account affer analyzing its effect on the accounting equation, After calculating the onding balance of each account on the 31st, calculate total assets and tolal liabilities and equity. (Complete only the necessary onswer boxes for your transaction lines. [Do not enter any zeros for your transaction fines. If a transaction is personal and does not attect the business, leave the transaction line blank. Carry down all balances to the "Bal." line, including zero balance accounts, entering a "0" for any zero balances. Entor a decrease in an account with a minus sign or parentheses Abbreviations used: AVP = Accounts Payable, AR= Accounts Receivable, Cap = Pivone, Capital, Comp = Computer, Exp = Expense, Liab. = Liabilities, Misc = Miscellaneous, Rev. = Revenue, Sup. = Supplies, Uti = = Utilities, Withdr = Pivone, Withdrawals.) Requirement 2. Prepare the financial statements a. Income statement for the month ended March 31, 2024. (if a box is not used in the table leave the box empty; do not select a label or enter a zero) Review the ending balances of the accounts from Requirement 1. b. Statement of owner's equity for the month ended March 31, 2024 Enter any increases in capital prior to the subtotal and any decreases to captal below the subtotal (Enter a "0" for any zero balances.) Review the ending balances of the accounts from Requitement 1 c. Balance sheet as of March 31, 2024 (if a baxis not issed in the tablo leave the box emptyr da not select a tabel or enter a zere.) Review the ending balances of the accounts from Requirement 1 . d. Statement of cash flows for the month onded March 31, 2024. activities (Use a minus sign or parentheses for ect a label or enter a zero. Complete all