6 points The following events apply to Gulf Seafood for the Year 1 fiscal year 1. The company started when it acquired $60,000 cash by issuing common stock 2. Purchased a new cooktop that cost $10,000 cash 3. Earned $72,000 in cash revenue 4. Paid $25,000 cash for salaries expense. 5. Adjusted the records to reflect the use of the cooktop Purchased on January 1 Year 1, the cooktop has an expected useful life of four years and an estimated salvage value of $4.000 Use straight line depreciation. The adjusting entry was made as of December 31, Year 1 print renos Required a. Record the above transactions in a horizontal statements model b. What amount of depreciation expense would Gulf Seafood report on the Year income statement c. What amount of accumulated depreciation would Gur Seafood report on the December 31, Year 2 balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 17 6 ROGA Region Record the ove transacta horrent statements del in the show combate whether is an operating at (O) (1) a mancing activity (FA) not change in Cash (C) If the element is not wcted by the wave the online andere te cash out how with Noclcells will requery] GULE SEAROOD Hot Model alance She Inci Stati Ro Expens me income Common ind Struch + Cash + + 2 3 4 5 Bal -- RA Het 3 Don 1. What amount of spreciation would Gulf Seafood report on the Year I income statement e. What wount of accumulated depreciation would seafond report on the December 1 Year, we het 4. Would the cash flow from operating activities be affected by depreciation in Year 1? Depreciation Yew income statement Accumulated deprecation on December 31, Yolance sheet d Would the show from the infected by derechos Year 17 (HA