Conway Manufacturing Company was started on January 1, 2014. The company was affected by the following events during its first year of operation. 1. Acquired $2,300 cash from the issue of common stock. 2. Paid $580 cash for direct raw materials. 3. Transferred $380 of direct raw materials to work in process. 4. Paid production employees $700 cash. 5. Paid $380 cash for manufacturing overhead costs. 6. Applied $195 of manufacturing overhead costs to work in process. 7. Completed work on products that cost $1,080. 8. Sold products that cost $860 for $1,630 cash. 9. Paid $390 cash for selling and administrative expenses. 10. Made a $70 cash distribution to the owners. 11. Closed the Manufacturing Overhead account. Required: a. Record these events in a horizontal statements model.