10 Cordell Inc. experienced the following events in Year 1, '03 first year of operation: 1. Received $59,000 cash from the issue of common stock. 11 2. Performed services on account for $81,000. pamts 3. Paid a $5,900 cash dividend to the stockholders. 4. Collected $65,000 of the accounts receivable. 5. Paid $59,000 cash for other operating expenses. 6. Performed services for $19,000 cash. a 7. Recognized $2,900 of accrued util'rties expense at the end of the year. eBook @ Required Him a. & c. Identify the events that result in revenue or expense recognition and those which affect the statement of cash ows. In the Statement of Cash Flows column, use 0A to designate operating activity, FA for nancing activity, or IA for investing activity. If the H element is not affected by the event, leave the cell blank. pm b. Based on your response to Requirement a, determine the amount of net income reported on the Year'l income statement. d. Based on your response to Requirement c, determine the amount of cash flow from operating activities reported on the Year1 statement of cash flows. \"i e. What is the before and afterclosing balance in the service revenue account? \"gamma f. What is the balance of the retained earnings account that appears on the Year'l balance sheet? Complete this question by entering your answers in the tabs below. Reg E and D Req A and C to F Identify the events that result in revenue or expense recognition and those which affect the statement of cash ows. In the Statement of Cash Flows column, use DA to designate operating activity, FA for nancing activity, or 1A for investing activity. If the element is not affected by the event, leave the cell blank. (Enter cash outows with a minus sign. Not all cells require input.) Slant last 59,000 FA 5,900 55,000 59,000 59,000 19,000 2,900 Complete this question by entering your answers in the tabs below. Req A and C Req B and D to F Based on your response to Requirement a and c, determine the amount of net income, cash flow from operating activities, before- and after-closing balance in the service revenue account and balance of the Retained Earnings account reported on the Year 1. b. Net income 38,100 d. Net cash flow from operating activities 84,000 e. Before-closing balance After-closing balance f. Balance of retained earnings