1. Performed $104,500 of services for clients on account. 2. Performed $57,000 of services for cash. 3. Incurred $62,000 of other operating expenses on account 4. Paid $23,500 cash to an employee for salary. 5. Collected $71,000 cash from accounts receivable. 6. Paid $26,000 cash on accounts payable. 7. Paid a $7,000 cash dividend to the stockholders. 8. Accrued salaries were $5,400 at the end of Year 1. Required a. Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash and NA to indicate the element is not affected by the event. The first event is shown as an example. (Enter any decreases to account balances and cash outflows with a minus sign.) b. What is the amount of total assets at the end of Year 1? c. What is the balance of accounts receivable at the end of Year 1? d. What is the balance of accounts payable at the end of Year 1? f. What is net income for Year 12 g. What is the amount of net cash flow from operating activities for Year 1? Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flow column, use OA to designate oper Investment activity, FA for financing activity, NC for net change in cash and NA to indicate the element is not affected by the event. The first event is shown as an exampl decreases to account balances and cash outflows with a minus sign.) Assets LEWIS AND HARPER Statements Model For Accounting Year 1 Liabilities Stockholders' Income Statement Equity Accounts Salaries Retained Payable Payable Revenue Earnings Expense - Net Income 104,500 104,500 104,500 Event No. Cash Accounts Receivable 104 500 - Statement of Cash Flow 1 NA 2 3 5. 6 7. Total Req A Req B to F Req G What is the amount of total assets at the end of Year 1? What is the balance of accounts receivable at the end of Year 1? What is the balance of accounts payable at the end of Year 1? What is net income for Year 1? b. Total assets c. Accounts receivable d. Accounts payable f. Net income Complete this question by entering your answers in the tabs below. Req A Reg B to F Req G What is the amount of net cash flow from operating activities for Year 1? Net cash flow from operating activities for Year 1