ta Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. . Lita Lopez invested $67,000 cash and equipment valued at $34,000 in the company in exchange for its common stock. D. The company purchased a building for $41,000 cash. =. The company purchased equipment for $5,900 cash. d. The company purchased $3,000 of supplies and $1,700 of equipment on credit. e. The company paid $860 cash for advertising expenses. f. The company completed a financial plan for a client and billed that client $4,100 for the service. 3. The company designed a financial plan for another client and immediately collected a $8,600 cash fee. h. The company paid $800 cash in dividends to the owner (sole shareholder). i. The company received $3,100 cash as partial payment from the client described in transaction f. j. The company made a partial payment of $850 cash on the equipment purchased in transaction d. k. The company paid $2,100 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.

ta Lopez started Biz Consulting, a new business, and completed the following transactions during its first year of operations. Lita Lopez invested $67,000 cash and equipment valued at $34,000 in the company in exchange for its common stock. The company purchased a building for $41,000cash. The company purchased equipment for $5,900 cash. . The company purchased $3,000 of supplies and $1,700 of equipment on credit. The company paid $860 cash for advertising expenses. f. The company completed a financial plan for a client and billed that client $4,100 for the service. . The company designed a financial plan for another client and immediately collected a $8,600 cash fee. 7. The company paid $800 cash in dividends to the owner (sole shareholder). i. The company received $3,100 cash as partial payment from the client described in transaction f. j. The company made a partial payment of $850 cash on the equipment purchased in transaction d. k. The company paid $2,100 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