The Lily Theater, owned by Meg Vargo, will begin operations in March. The Lily will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Lily showed: Cash $3,050, Land $22,000, Buildings (concession stand, projection room, ticket booth, and screen) $12,000, Equipment $12,000, Accounts Payable $7,500, and Owners Capital $41,550. During the month of March, the following events and transactions occurred