The Accounting Equation Dr. Patricia Parsons is a dentist. As of January 31, Parsons owned the following property that related to her professional practice: Cash $3,560 Office Equipment 4,600 X-ray Equipment 8,760 Laboratory Equipment 5,940 She also owes the following business suppliers: Cupples Gas Company $1,815 Swan Dental Lab 2,790 Required: 1. From the preceding information, compute the accounting elements and enter them in the accounting equation. Assets Liabilities Owner's Equity 2. During February, the assets increase by $4,565, and the liabilities increase by $3,910. Compute the resulting accounting equation. Assets Liabilities Owner's Equity %3D 3. During March, the ass decrease by $2,190, and the liabilities increase by $1,650. Compute the resulting accounting equation. Liabilities Owner's Equity Assets

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