ances Required information [The following information applies to the questions displayed below.] The following transactions pertain to Smith Training Company for Year 1: 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, $15,300 cash. Apr. 10 Purchased $860 of supplies on account. July 1 Received $21,500 cash in advance for services to be provided over the next year. 20 Paid $645 of the accounts payable from April 10. Aug. 15 Billed a customer $9,600 for services provided during August. Sept. 15 Completed a job and received $3,500 cash for services rendered. Oct. 1 Paid employee salaries of $33,000 cash. 15 Received $6,200 cash from accounts receivable. Nov. 16 Billed customers $34,000 for services rendered on account.. Dec. 1 Paid a dividend of $600 cash to the stockholdere. 31 Adjusted records to recognize the services provided on the contract of July 1. 11 Recorded $2,450 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies: $60 was on hand at the end of the period. 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.) Income Statement Service revenue Expenses Salaries expense Rent expense SMITH TRAINING COMPANY Financial Statements For the Year Ended December 31, Year 1- Supplies expense $ 35,450 7.013 800 $ 57,850 Total expenses Net income Statement of Changes in Stockholders' Equity Beginning common stock Plus Stock issued Ending common stock 43.263 $ 14,587 12.000 52,000