1. Acquired $14,000 cash from the issue of common stock 2. Purchased Inventory for $5,400 cash 3. Sold Inventory costing $3,240 for $5,508 cash 4. Paid $800 for advertising expense. Required Record the events in a horizontal statement model. In the Cash Flow column, use OA to designate operating activity, IA for activity. FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blant every cell will require entry, Enter any decreases to account balances and cash outflows with a minus sign.) Assets COWBOY ICE CREAM COMPANY Effect of Events on the Financial Statements Stockholders' Equity Common Retained Revenuo Expenses Stock Earnings Event Cash Inventory Not Income Statement of Cash Flows 1 14,000 15400 2 3a + 3b + 4. + Total 14,000 + O 0+ 0 0 0 0