2 Life, Inc. experienced the following events in Year 1, its first year of operation: 1. Performed counseling services for $22,800 cash. 2. On February 1, Year 1, paid $15,600 cash to rent office space for the coming year. 3. Adjusted the accounts to reflect the amount of rent used during the year oints eBookRequired Based on this information alone: a. Record the events in general ledger accounts under an accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign.) Hint LIFE Print Effect of Events on the Accounting Equation Stockholders Assets uI Event eferencE Prepaid Rent Retained Cash Earnings Performed 22,800 22,800 services 15,600 2. Prepaid rent 3. Used rent Totals 15,600 15,600 b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign.) IFE, INC Income Statement For the Year Ended December Year Chapter 3 Review Assignment Saved Help Save & Exit Submit Check my work 2 Balance Sheet As of December 31, Year 1 Assets points Total assets eBook Liabilities Stockholders E Hint Total stockholders Total liabilities and stockholders Print ReferenCE Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating Net cash flow from operating Cash flows from investing Cash flows from financing Net c in cash Ending cash balance c. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 27 (Do not round intermediate calculations.) 2 of 4 Pr Ne