The Accounting Equation Dr. John Salvaggi is a chiropractor. As of December 31, he owned the following property that related to his professional practice. Cash Office Equipment X-ray Equipment Laboratory Equipment He also owes the following business suppliers: $3,440 6,480 10,500 6,960 Chateau Gas Company Aloe Medical Supply Company Required: $3,430 4,270 1. From the preceding information, compute the accounting elements and enter them in the accounting equation shown as follows. Assets Liabilities Owner's Equity 2. During January, the assets increase by $8,490, and the liabilities increase by $3,420. Compute the resulting accounting equation. Assets Liabilities Owner's Equity 3. During February, the assets decrease by $3,370, and the liabilities increase by $2,150. Compute the resulting accounting equation. Assets Liabilities Owner's Equity