Problem 1-8A Analyzing effects of transactions LO P1, A1 Lito Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations, a. Lita Lopez invested $65,000 cash and office equipment valued at $39,000 in the company in exchange for its common stock b. The company purchased an office suite for $46,000 cash c. The company purchased office equipment for $5,100 cash d. The company purchased $3,900 of office supplies and $1.400 of office equipment on credit e. The company paid a local newspaper $870 cash for printing an announcement of the office's opening f. The company completed a financial plan for a client and billed that client $4,900 for the service 9. The company designed a financial plan for another client and immediately collected a $8,100 cash fee. h. The company paid $1,500 cash in dividends to the owner isole shareholder) I. The company received $3,900 cash as partial payment from the client described in transaction J. The company made a partial payment of $700 cash on the equipment purchased in transaction k. The company paid $2,300 cash for the office 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. Required 1 Required 2 Enter the amount of each transaction on individual items of the accounting equation (Reductions in account balances should be indicated with a mission) Labarties Equity Assets Accounts Common Dividends Revenues Expenses Check my work Required 1 Required 2 Enter the amount of each transaction on individual items of the accounting equation. (Reductions in account balances should be indicated with a minus sign) Assets Liabilities Equity Cash Accounts Receivable Office Supplies Office Equipment Office Suite - Accounts Payable Common Stock Dividends Revenues Expenses b - + Bal + - C - Bal - . - - . + d Bal . . + Bal 1 . + . Bal - 9 Bal + + h - Bal 1 Bal +++++ ++++++++++ + ###### . . + 1 Bal +++ . Bal 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. Required 1 Required 2 Determine the company's net income. Net income