Taylor Orlando began Taylor Roofing, his roofing business, on March 1, 2022. On March 31, the balances in the accounts were as follows. Cash $9,000, Accounts Receivable $2,000, Equipment $8,000, Accounts Payable $4,000, and Owner’s Capital $15,000. During April, the following transactions occurred.
1. Collected $1,000 of accounts receivable.
2. Paid $1,200 for a one-year accident insurance policy.
3. Paid $3,200 cash on accounts payable.
4. Collected $4,000 cash in exchange for services performed.
5. Purchased additional equipment for $5,000, paying $500 in cash and the balance on account.
6. Paid advertising expenses $200.
7. Incurred utility expenses for the month on account $500.
8. Withdrew $800 in cash for personal use.

Instructions
a. Prepare a tabular summary of the April transactions, beginning with the March 31 balances. The column headings should be as follows: Cash + Accounts Receivable + Prepaid Insurance + Equipment = Accounts Payable + Owner’s Capital – Owner’s Drawings + Revenues – Expenses.
b. Compute total revenues and total expenses for April.
c. Compute the balance of assets, liabilities, and owner’s equity at April 30.