At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Balance Cash Accounts receivable Accounts payable Common stock Retained earnings $ 30,300 21,600 11,900 26,600 13,400 The following events apply to Oak Consulting for Year 2: 1. Provided $71,700 of services on account. 2. Incurred $3,300 of operating expenses on account. 3. Collected $45,100 of accounts receivable. 4. Paid $31,200 cash for salaries expense. 5. Paid $13,680 cash as a partial payment on accounts payable. 6. Paid a $9,800 cash dividend to the stockholders. c. Show the beginning balances and the transactions in a horizontal statements model. Note: Enter any decreases to account balances and cash outflows with a minus sign. In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. Not all cells require input. OAK CONSULTING Effect of Transactions on the Financial Statements for Year 2 Balance Sheet Number Assets Cash Accounts Receivable Liabilities Accounts Payable Stockholders' Equity + Common Stock Retained Revenue Earnings Income Statement Statement of Cash Flows Expenses Net Income Balance + + + 1 + = + + 2 + + + 3 + + 4 + + + 5 + + + 6 + + + Balance 0+ 0+ 0+ 0 0 0 0 0