The assets, liabilities, and owners equity accounts for Carries Accounting Firm are below:

Cash

Office Supplies

Office Equipment

Accounts Receivable

Accounts Payable

Carrie, Capital

Carrie, Drawing

Professional Fees

Utility Expense

Rent Expense

Salary Expense

Transactions:

1. Carrie invested $75,000 cash
2. Purchased office equipment on account from Torres company on account $12,000
3. Purchased office supplies $1000 on account
4. Received $700 for from a client
5. Purchased office supplies for $300
6. Paid salaries to employees $2500
7. Billed customer Diamond for services provided $3000
8. Paid utility bill $600
9. Paid rent $3000
10. Paid $6000 to Torres company (2)
11. Received $2000 from Diamond (7)
12. Carrie withdrew $3000 for personal use

Set up the accounting equation and record all transactions. Show that accounting equation balances after each transaction. Prepare an income statement,statement of owners equity, and a balance sheet. Account-based Balance Sheet