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. Acquired $32,500 cash from the issue of common stock. Purchased inventory for $26,000 cash. Sold inventory costing $15,000 for $32,000 cash. Required Record the events in a horizontal statement model. In the Cash Flow column, use OA to designate operating