Cordell Incorporated experlenced the following events in Year $1,$ its first year of oper ation:

Receved $$54,000$ cash from the ksue of common stock.

Performed services on account for $$76,000.$

Pald a $$5,400$ cash dildend to the stockholders.

Callected $$60,000$ of the accounts recelvable.

Pald $$54,000$ cash for other operating expenses.

Performed services for $$12500$ cash.

Recognized $$2400$ of accrued utlltles expense at the end of the year.

Required:

a$.$ &c$.$ Identify the events that result in revenue or expense recogntion and those which affect the statement of cash flows. In the Statement of Cash Flows column, use OA to designate operating advity. FA for finanding adity, or IA for Investing actMity.

b$.$ Based on your response to Requirement $a,$ determine the a mount of net income reported on the Year $1$ income statement.

d$.$ Based on your response to Requirement $c$ determine the amount of cash flow from oper ating actities reported on the Year $1$ statement of cash flows.

e$.$ What is the before and after$-$closing balance in the service revenue account?

f$.$ What is the balance of the retained earnings account that appears on the Year $1$ balance sheet?

Complete this question by entering your answers in the tabs below.

Reg A and $C$

Req Eisind $D$

la $f$

Identify the events that result in revenue or expense recognition and those which affect the statement of cash flows. In the Statement of Cash Flows column, use $OA$ to designate operating activity, FA for financing activity, or IA for investing activity.

Note: Enter cash outflows with a minus sign, Not all cells require input.

$\backslash$table$[[$Event$,$Reverue,Expense,Statement of Cash Flows,$],[1.,,,,],[2.,,,,],[3.,,,,],[4.,,,,],[3.,,,,],[6.,,,,],[7.,,,,]]$