4PT D Question 28 Lucy Morton opened an engineering office and titled the business Engineering Enterprises P.C. During its first month of operations, it completed the following transactions: 1. Lucy invested $40,000 in the business, which in turn issued common stock to her. 11. The business purchased equipment on account for $8,000. II. The business provided engineering services on account, $12,000. IL. The business paid salaries to the receptionist, $1,200. IV. The business received cash from a customer as payment on account $4,000. V. The business borrowed $10,000 from the bank, issuing a note payable. Total assets would be