using the account equation for transaction analysis and preparing financial statement

Allen Shonton recently opened his own accounting firm on April 1, which he operates as a sole proprietorship. The name of the new entity is Allen Shonton, CPA. Shonton experienced the following events during the organizing phase of the new business and its first month of operations in 2018.

April 5- Shonton deposited $75,000 in a new business bank account titled Allen Shonton, CPA. The business gave capital to Shonton.

April 6- Paid $300 cash for letterhead stationery for new office.

April 7- Purchased office furniture for the office on account, $9500 April 10, consulted with tax client and received $4000 for services rendered. April 11, paid $190 for utilities April 12 finished tax hearing on behalf of a client and submitted a bill for accounting services, $20,000 April 18, paid office rent $750 April 25 received amount due from client that was billed on april 12 April 27th paid full amount of accounts payable created april 7th April 30th Ahonton withdrew cash of $3500

1. Analyze the effects of the events on the accounting equation of Allen Shonton, Cpa.

2. Prepare the following financial statements: A. income statement B. Statement of owners equity. C. Balance sheet