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 $30.000 cash from the issue of common stock. 2. Purchased inventory for $18,000 cash. 3. Sold inventory costing $15,000 for $32,000 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 B Required 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 Record entry for issuance of common stock. Note: Enter debits before credits Event General Journal Debit Credit 1. Record entry Clear entry View general journal Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Post the entries to T-accounts. Cash Common Stock Beg. Bal. Beg Bal. End. Bal. End. Bal. Inventory Sales Revenue Beg. Bal. Beg Bal End. Bal. 0 End. Bal. Cost of Goods Sold Beg. Bal. End. Bal. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Determine the amount of gross margin. DAN WATSON MERCHANDISING Income Statement For the Year Ended December 31, Year 1 0 Required A Required B Required Required What is the amount of net cash flow from operating activities for Year 1? (Indicate cash outflows with minus sign.) Net cash flow from operating activities