Problem 1-8A (Algo) Analyzing effects of transactions LO P1, P2 Lita Lopez started Biz Consulting, a new business, and completed the following transactions during its firstyear of operations. a. Lita Lopez invested $67,000 cash and equipment valued at $32,000 in the company. b. The compony purchased a building for $41,000 cash. c. The company purchased equipment for $5,200 cash. d. The company purchased $3,400 of supplies and $2,000 of equipment on credit. e. The company paid $820 cash for advertising expenses. 1. The company completed a financial plan for a client and billed that client $4,800 for the service. 9. The company designed a financial plan for another client and immediately collected a $8,000 cash fee. h, L. Lopez withdrew $1,700 cosh from the company for personal use. 1. The company recelved $3,800 cosh as partial payment from the client described in transaction f. j. The company made a partial payment of $1,000 cash on the equipment purchased in transaction d. k. The company paid $1,800 cash for the secretary's wages for this period. Required: 1. Enter the amount of each transaction on individual items of the accounting equation. 2. Determine the company's net income. Complete this question by entering your answers in the tabs below. Enter the amount of each tramsaction on individual frems of the accounting equation