Chec The following selected transactions apply to Topeco Supply for November and December Year 1 November was the first month of operations. Sales tax is collected at the time of sole but is not paid to the state sales tax agency until the following month 1. Cash sales for November Year 1 were $66,000 plus sales tax of 7 percent 2. Topeco Supply paid the November sales tax to the state agency on December 10, Year 1 3. Cash sales for December Year 1 were $79,500 plus sales tax of 7 percent Required 1. Record the effect of the given transactions in a horizontal statements model (In the Cash Flow column, use the initial OA" for operating activities, "FA" for financing activities, and "IA" for investing activity. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require input.) TOPCA SUPPLY Horizontal Statement Model Stockholder's Lully income Statement Common Related Revenue Stock Enmings Liabilis Sales Tax Payable Even Statement of Cash Flow Net Income 1 2 3