The following horizontal financial statements model shows the transactions experienced by Surf’s Up Industries during Year 1. The table contains missing data that are labeled with alphabetic characters (a) through (n). Assume all transactions shown in the accounting equation are cash transactions.

Required
a. Use amounts or alphabetic letters to fill in the blanks highlighted by each character (a) through (n). Use the letters NA to indicate that no amount is related to the alpha character shown in the model. Use the letters FA to represent financing activity; IA to represent investing activities; OA to represent operating activities, and NC to represent net change.
b. Determine the total amount of assets that will appear on the December 31, Year 1, balance sheet.
c. Determine the total amount of net income that will appear on the income statement.
d. Determine the amount of cash flow from investing activities that will appear on the statement of cash flows.

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Balance Sheet Income Statement Statement of Cash Flows + Stockholders' Equlty = Notes Pay. + Com. Stk. + Ret. Earn. Assets Llab. Event Cash Exp. Land = Net Inc. Rev. Beg. NA NA (c) NA NA + 400,000 + (f) (a) + NA + (b) NA = 1. 500,000 + 500,000 FA 400,000 (e) 2. (d) (475,000) (9) 105,000 OA (80,000) OA (15,000) (1) 435,000 NC NA = NA = 105,000 400,000 + (475,000) + NA = NA NA 3. NA + NA + NA NA NA 105,000 4. (h) + (80,000) + 6. NA (1) NA + NA + NA 5. (k) = (80,000) NA + NA = NA + NA () NA + (15,000) 400,000 + 500,000 + 10,000 (15,000) + End NA = NA NA + NA NA (m) + 475,000 : (n) 80,000 25,000 6.