Acct 201-Exam #2 (B)-Fall 2017 Maxwell Smart, Attormey at Law, experienced the following transactions during 2014, the first year of operations. a) Accepted $48,000 on April 1, 2014 as a retainer for services to be performed evenly over the next 12 months. b) Paid the landlord of his new business condominium $18,000 on May 1, 2014 for a lease that runs for 12 months, ending 4/30V15 c) Performed legal services for cash of $54,000. d) Purchased $2,800 of office supplies on account. e) Paid $2,400 of the amount due on accounts payable. f Paid cash for operating expenses of $31,000 g) Determined that on 12/31/14, $200 of office supplies remained on-hand. Reguired: Calculate the total amount of revenue earned by Smart that is reported on the 2014 Income Statement. 1) Calculate the total amount of expenses reported by Smart on the December 31, 2014 income statement (Hint: Adjust for any deferrals paid by Smart). 2)