2.

Leach inc. experienced the following events for the first two years of its operations: Year 1: 1. Issued $10,000 of common stock for cash. 2. Provided $100,000 of services on account. 3. Provided $27,000 of services and recelved cash. 4. Collected $73,000 cash from accounts recelvable. 5. Paid $12,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts recelvable balance will be uncollectible. Year 2: 1. Wrote off an uncollectible account for $690. 2. Provided $120,000 of services on account. 3. Provided $25,000 of services and collected cash. 4. Collected $102,000 cash from accounts receivable. 5. Paid $26,000 of salaries expense for the year. 6 . Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible. Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a on the Accounts Tities for Retained Earnings, leave the cell blank. Not all calle will ranuirn antru. Prepare the income statement for Year 1. Complete this question by entering your answers in the tabs belo Prepare the statement of changes in stockholders' equity for Year 1. Prepare tne Dalance sneet ror year 1. Prepare the statement of cash flows for Year 1. (Cash outflows should be indicated with a minus What is the net realizable value of the accounts receivable at December 3