Check my wor Don Watson started a small merchandising business in Year 1. The business experienced the following events during its first year of operation. Assume that Watson uses the perpetual inventory system points 1. Acquired $30,000 cash from the issue of common stock 2. Purchased Inventory for $24,000 cash. 3. Sold Inventory costing $17,300 for $31.500 cash, for Required a. Record the events in a horizontal statement model in the Cash Flow column, use DA to designate operating activity investment activity, FA for financing activity, and NC for net change in cash. b. Prepare an income statement for Year 1 use the multistep format c. What is the amount of total assets at the end of the period? Complete this question by entering your answers in the tabs below. Required A Required Required C. Prepare an income statement for rear luse the multistes formats DAN WATSON MERCHANDISING Income Statement For the Year Ended December 31. Yeart (BA