> 2 During Year 1, Hardy Merchandising Company purchased $15,000 of inventory on account Hardy sold inventory on account that cost $11,300 for $16,900 Cash payments on accounts payable were $9.400. There was $15,000 cash collected from accounts receivable Hardy also paid $3,500 cash for operating expenses. Assume that Hardy started the accounting period with $24.500 in both cash and common stock points Required .. Record the events in a horizontal statement model in the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank b. What is the balance of accounts receivable at the end of Year 17 c. What is the balance of accounts payable at the end of Year 17 d. What are the amounts of gross margin and net income for Year 1 .. Determine the amount of net cash flow from operating activities Complete this question by entering your answers in the tabs below