Connect Help Save & Ext The following transactions apply to Ozark Sales for Yeart The business was started when the company received $48.000 from the sue of common stock 2. Purchased equipment inventory of $174.000 on account 3 Sold equipment for $208.500 cash not including sales tax Sales tax of 6 percent is collected when the chances The merchandise had a cost of $33.500 4. Provided a six-month warranty on the equipment sold. Based on industry estimate the warranty is would amount to 3 percent of sales Paid the sales tax to the state agency on $158.500 of the sales & On September Yeart borrowed $20.000 from the local bank. The note had a 7 percent interest rate and matured on March Year 2 Z Paid $6.000 for warranty repairs during the year & Paid operating expenses of $55.500 for the year Paid $126.000 of accounts payable Recorded accrued interest on the not sued in transaction na 6 Required & Record the given transactions in a horizontal statements model b. Prepare the income statement balance sheet, and statement of cash flows for Year e. What is the total amount of current abilities at December 31 Year I? Complete this question by entering your answers in the tabs below, ROQ Inc Regal Sheet Rog B Smit Cash Flows Red Record the oven tractions in a horizontal statements model. Entrance to account balance with the Ne not whole Dar amounts Front Merchandise Inventory Accounts Payable ol Balance Sheet Liabilities Sales Tax Warranty Payable Payable 01 - ol- 0 - 01. 12,510 01. ol 01- 1. 2 0 48,000 O. 221,010 0+ 174,000 174,000 01 0 O 30 (133,500) ol o. ol OZARK SALES Horizontal Statanants Model locomment Stockholders' Equity Interest Notes Common Retained Revenue - Expane Payable Payable Stock Earnings ols o 48,000 0 o 0= of 48.000 0 $ ol 0 O- O 5 0+ 208,500 208,500 O 208,500 OA ol+ (133,500) 0 133.500 ol- ol 0- 0 ol- ol- ol OL 01 ol ol- 0= O ol ol ol 0 014 0 o ol- ol ol 0 0 ol 0 ol- 0 ol 05 0 0 0 al 0 0 0- 01 48.000 75,000 208,500 133 500- 208,500 48.000 +10 -10 +10 -10 + 4 0 . 0 0 5 10 -10 +10 10 0 0 0 10 +10 +10 10 lo +10 $10 +0 SD -10 $0 +10+ 0 - 10 $0 +10 $.10 $10 6. 7 & 9 ol -o 10 +10 +10 +10 0- 0+ 10 -10 +10 O + 10. ol. Ol O. 0. 174,000 0 ol lal 269,010- 40,500 - 12,510 Regine St> Complete this question by entering your answers in the tabs below. Req A Req B Inc Stmt Req B Bal Sheet Req B Stmt Cash Flows Reqc Prepare the income statement for Year 1. (Round your answers to the nearest whole dollar. OZARK SALES Income Statement For the Year Ended December 31, Year 1 Expenses Total operating expenses