Dan 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 1. Acquired S29,500 cash from the issue of common stock 2. Purchased Inventory for $23,600 cash. 3. Sold inventory costing $15,300 for $31.500 cash. Required a. Record the events in general Journal format b. Post the entries to T-accounts. c. Determine the amount of gross margin. d. What is the amount of net cash flow from operating activities for Year 1? Complete this question by entering your answers in the tabs below. Required A Required Required B Required Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Dan 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. 1. Acquired $29.500 cash from the issue of common stock. 2. Purchased inventory for $23,600 cash. 3. Sold inventory costing $15,300 for $31,500 cash. Required a. Record the events in general joumal format. b. Post the entries to T-accounts. c. Determine the amount of gross margin. d. What is the amount of net cash flow from operating activities for Year 12 Complete this question by entering your answers in the tabs below. Required D Required A Required B Required Required Post the entries to T-accounts Cash Common Stock Beg, Bali Beg Bal End. Bal End. Bal. Merchandise Inventory Sales Revenue Beg Bal Beg Bal End. Bal End, Bal Cost of Goods Sold Beg Bal End. Bal. Dan 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, 1. Acquired $29,500 cash from the issue of common stock. 2. Purchased inventory for $23,600 cash. 3. Sold inventory costing $15,300 for $31,500 cash. Required a. Record the events in general Journal format. b. Post the entries to T-accounts c. Determine the amount of gross margin d. What is the amount of net cash flow from operating activities for Year 1? Complete this question by entering your answers in the tabs below. Required A Required a required cRequired D Determine the amount of gross margin. DAN WATSON MERCHANDISING Income Statement For the Year Ended December 31, Yoar 1 Chapter 4 Saved Dan 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 1. Acquired $29,500 cash from the issue of common stock. 2. Purchased inventory for $23,600 cash. 3. Sold inventory costing $15,300 for $31.500 cash Required a. Record the events in general Journal format b. Post the entries to T-accounts c. Determine the amount of gross margin. d. What is the amount of net cash flow from operating activities for Year 12 Complete this question by entering your answers in the tabs below. Required A Required B Required Required D What is the amount of net cash flow from operating activities for Year 17 (Indicate cash outflows with minus sign.) Net cash flow from operating activities