Suppose you began a business as a wholesaler of auto parts in Lisbon. The following events have occurred (the symbol E represents the euro, the European currency): On March 1, 20X1, you invested E80,000 cash in your new sole proprietorship, which you call Autopartes Lisbon. You required E10,000 inventory for cash. You acquired E8,000 inventory on open account. You required equipment for E15,000 in exchange for a E5,000 cash payment and a E10,000 promissory note. A large retail, which you had hoped would be a big customer, discontinued operations. You take tires home for your family car. Autopartes Lisbon's inventory carried the tires at E600. (Regard this as taking part of your capital out of Autopartes Lisbon.) Parts that cost E300 in transaction 2 were damaged in shipment. You returned them and obtained a full cash refund. Parts that cost E800 in transaction 3 were the wrong size. You returned them and obtained parts of the correct size in exchange. Parts that cost E500 in transaction 3 had an unacceptable quality. You returned them and obtained full credit on your account. You paid E2,000 on the promissory note. You use your personal cash savings of E5,000 to acquire some equipment for Autopates Lisbon. You consider this to be an additional investment in your business. You paid E3, 000 on open account. Two transmission manufactures who are suppliers for Autopartes Lisbon announced a 7% rise in prices, effective in 60 days. You use your personal cash of E1,000 to acquire a new TV set for your family. You exchange equipment that cost E4,000 in transaction 4 with another wholesaler, However, the equipment received, which is almost new, is smaller and is worth only E1,500. Therefore, the other wholesaler also pays you E2,500 in cash. (You recognize no gain or loss on this transaction) By using Exhibit 1-2 as a guide, prepare an analysis of Autopartes Lisbon's transactions for March. Confine your analysis to the effects on the financial position of Autopartes Lisbon. Prepare a balance sheet for Autopartes Lisbon as of March 31. 20X1