a) Show the effects of these transactions in a horizontal statements model like the one shown below. (Enter any decreases to account balances with a minus sign. If there is no effect on the Statement of Cash Flow, leave the cell blank.) Please show the work.

Prepare the income statement, balance sheet, and statement of cash flows for 2018.

The following transactions apply to Hooper Co. for 2018, its first year of operations 1. Issued $190,000 of common stock for cash. 2. Provided $88,000 of services on account. 3. Collected $76,000 cash from accounts receivable. 4. Loaned $11,000 to Mosby Co. on November 30, 2018. The note had a one-year term to maturity and a 6 percent interest rate. 5. Paid $34,000 of salaries expense for the year. 6. Paid a $2,000 dividend to the stockholders. 7. Recorded the accrued interest on December 31, 2018 (see item 4). 8. Estimated that 1 percent of service revenue will be uncollectible. Required a. Show the effects of these transactions in a horizontal statements model like the one shown below. (Enter any decreases to account balances with a minus sign. If there is no effect on the Statement of Cash Flow, leave the cell blank.) HOOPER CO. Assets Income Statement Event Allowance for Horizontal Statements Model Equity Interest Common Retained Receivable . Receivable Stock Earnings No. Notes Statement of Cash Flow Cash Accounts Receivable + + Revenue Doubtful Accounts - Expense = Net Income + + + + + + + + + + + + + + + + + + + + + + Total + + + Required information [The following information applies to the questions displayed below.) The following transactions apply to Hooper Co. for 2018, its first year of operations: 1. Issued $190,000 of common stock for cash. 2. Provided $88,000 of services on account 3. Collected $76,000 cash from accounts receivable. 4. Loaned $11,000 to Mosby Co. on November 30, 2018. The note had a one-year term to maturity and a 6 percent interest rate. 5. Paid $34,000 of salaries expense for the year. 6. Paid a $2,000 dividend to the stockholders. 7. Recorded the accrued interest on December 31, 2018 (see item 4). 8. Estimated that 1 percent of service revenue will be uncollectible. b. Prepare the income statement, balance sheet, and statement of cash flows for 2018. Reg B Inc Stmt Reg. Binc Req B Bal Sheet Reghena Req B Stmt Cash Flows Prepare the statement of cash flows for 2018. (Amounts to be deducted should be indicated with a m HOOPER CO. Statement of Cash Flows For the Year Ended 2018 Cash flows from operating activities Inflow from customers Outflow for expenses Net cash flow from operating activities Cash flows from investing activities Outflow for notes receivable Net cash flows from investing activities Cash flows from financing activities Cash inflow from stock issued Cash outflow for dividends Net cash flows from financing activities Net change in cash Plus: Beginning cash balance Ending cash balance $ 0 Req B Inc Stmt Req B Bal Sheet Req B Stmt Cash Flows Prepare the balance sheet for 2018. (Round intermediate calculations and final answers to HOOPER CO. Balance Sheet As of the End of the Year 2018 Assets Cash Accounts receivable Less: Allowance for doubtful accounts Notes receivable Interest receivable Total assets Liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity