Chapter 2 1) Kiscaden Coporation began business operations and experienced the following transactions during 2016 1) Issued common stock for $20,000 cash. 2) Provided services to customers for $80,000 on account. 3) Incurred $36,000 of operating expenses on account. 4) Collected $46,000 cash from customers. 5) Paid $30,000 on accounts payable. Required Record the above transactions on a horizontal statements model to reflect their effect on Kiscaden's financial statements. Precede the amount with a minus sign if the transaction reduces that section of the equation. In the last column, enter OA, IA, FA for the type of cash flow activity. Assets Cash Accounts Accounts Common Rotained Cash Receivable PayableStock Earnings Flows Totals 2) Hernandez Company began business operations and experienced the following transactio during 2016: 1) Issued common stock for $50,000 cash. 2) Provided services to customers for $125,000 on account. 3) Purchased $2,500 of supplies on account. 4) Paid $30,000 cash to rent office space for a 12-month period beginning July 1. 5) Collected $115,000 cash from customers. 6) Paid cash for $90,000 of operating expenses