a. Record the events under an accounting equation. (Enter any decreases to account balances with a minus sign.) YARD DESIGNS Accounting Equations for the Year 1 Assets Liabilities Event Unearned Cash Revenue Advance payment Revenue earned +++ 0 = 0+ Stockholders' Equity Retained Earnings 0 b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. (In statement of cash flows, cash outflows should be indicated with a minus sign.) YARD DESIGNS Income Statement For the Year Ended December 31, Year 1 $ 0