Jeremy Zabel operates his own catering service. Summary financial data for February are presented in equation form as follows. Each line designated by a number indicates the effect of a transaction on the equation. Each increase and decrease in stockholders?? equity, except transaction (5), affects net income.

a. Describe each transaction.b. What is the amount of net decrease in cash during the month?c. What is the amount of net increase in stockholder??s equity during the month?d. What is the amount of the net income for the month?e. How much of the net income for the month was retained in thebusiness?

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Stockholders Equity Liabilities + Assets Retained • Earnings - Dividends Earned - Expenses + Supplies + Land 75,000 Capital Stock 25.000 Payable + Accounts Fees Cash 25,000 1. 2. Bal 65,000 12,000 2.000 29,000 +29,000 -20,000 +20,000 -14.000 -14,000 +1.000 4. -2,000 6. 7. +1,000 -2.000 -7000 -7,000 -1.800 -1,800 95.000 Bat -2.000 29,000 11,000 1.200 6,000 65.000 -15.800 25.000