Question 1 Not yet answered On a separate piece of paper complete Exercise 1-23 on page 60 (Income Statement, Statement of Changes in Equity and Balance Sheet). This exercise uses the infomation presented in the practice question Exercise 1-22 on page 59. Marked out of 2.00 P Flag question What is the net profit or loss for Omar's Yard Care for the Month Ended March 31, 2020? Choose... What is the opening balance on the Statement of Changes in Equity on March 1, 2020? Choose... What is the closing balance on the Statement of Changes in Equity on March 31, 2020 Choose... - Review Omar's Income Statement. Does the profit represent the cash in the business? Choose... Finish attempt.. Exercise 1-22 Effects of transactions on the accounting equation LO6, 7 eXcel CHECK FIGURE: Accounts payable, March 31, 2020 = $2,350 a. Ali Omar invested $4,300 cash and $15,000 of equipment to start his business, Omar's Yard Care. b. Purchased various supplies on account; $1,600. c. Bought supplies on credit; $950. d. Omar signed a $4,000 contract to do yard work beginning in May. e. Did work for a client on account: $550. f. Performed services for a customer on credit; $600. g Paid $200 for the supplies purchased in (c). h. Paid $250 for advertising online, i. Collected the amount owed from the customer in (1) 59