Step 1. Record the items below on the equation analysis sheet. Do not forget to calculate the figures for Total Assets, Total Liabilities, Capital, and Total Liabilities & Owner's Equity. Step 2: Alliance Appliance Service Balance Sheet --Date-- Liabilities Assets Cash $1395 Bank Loan $5000 A/R - N Chang 100 Mortgage Payable 52700 A/R - P.O'Neil 527 Total Liabilities Equipment 8316 Owner's Equity Trucks 19750 Dalli, Capital Land 40000 Building 80000 Total Assets Total Liabilities and Equity Analyze the transactions of October 21, listed below, and record the necessary changes on the equation analysis sheet. Remember that the accounting equation must always remain in balance! Transactions: 1. The owner, in need of money for his personal use, draws $500 cash out of the business. 2. P. O'Neil pays her debt of $527. 3. A repair service is performed for a customer. The customer pays the full amount of the bill, $90, in cash. 4. A new electrical tester is purchased for $410 and paid for in cash. 5. The regular monthly mortgage payment of $900 in cash is made. Step 3: After completing the transactions, calculate the new totals and ensure that the equation is still in balance. Then prepare a new balance sheet