b$.$ What is the amount of total assets at the end of Year $1?$

c$.$ What is the balance of accounts receivable at the end of Year $1?$

d$.$ What is the balance of accounts payable at the end of Year $1?$

f$.$ What is net income for Year $1?$

g$.$ What is the amount of net cash flow from operating activities for Year $1?$The following events apply to Lewis and Harper, a public accounting firm, for the Year $1$ accounting period:

Required

a$.$ Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the

Statement of Cash Flows column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for

net change in cash, or leave blank to indicate the element is not affected by the event. The first event is shown as an example.

LEWIS AND HARPER

Horizontal Statements Model

For Accounting Year $1$

Balance Sheet

$($ANSWER ALL QUESTIONS IN THE IMAGES WITH EXCEL FORMULAS PLEASE$)$