4 Part 4 of 6 6 Required Information Problem 3-32A Comprehensive problem: single cycle LO 3-1, 3-2, 3-3, 3-4 [The following information applies to the questions displayed below.] The following transactions pertain to Smith Training Company for Year 1: 1.66 points eBook Jan. 30 Established the business when it acquired $52,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $16,300 cash. Apr. 10 Purchased $840 of supplies on account. July 1 Received $25,980 cash in advance for services to be provided over the next year. 20 Paid $638 of the accounts payable from April 10. Aug. 15 Billed a customer $10,200 for services provided during August Sept. 15 Completed a job and received $2,800 cash for services rendered. Oct. 1 Paid employee salaries of $34,500 cash. 15 Received $8,100 cash from accounts receivable. Nov. 16 Billed customers $33,000 for services rendered on account. Dec. 1 Paid a dividend of $600 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,858 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies; $140 was on hand at the end of the period. Print T References Problem 3-32A Part d d. Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year 1. (Round your final answers to the nearest whole dollar amount. Statement of Cash Flows only, Items to be deducted must be Indicated with a negative amount.) SMITH TRAINING COMPANY Financial Statements For the Year Ended December 31, Year 1 Income Statement Service revenue Expenses Total expenses 0 S 0 Statement of Changes in Stockholders' Equity 0 0 Total Stockholders' Equity S 0 SMITH TRAINING COMPANY Balance Sheet As of December 31, Year 1 Assets Cash S 0 Total assets Liabilities S 0 Total liabilities Stockholders' Equity 0 Total stockholders' equity Total liabilities and stockholders' equity S 0 SMITH TRAINING COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flow from operating activities: S 0 Net cash flow from operating activities Cash flow from investing activities Cash flows from financing activities Received from stock issue Paid for dividends Paid for dividends Net cash flow from financing activities Net change in cash Plus: Beginning cash balance Ending cash balance 0 0 S 0