Dan Watson started a small merchandising business in Year 1. The business experienced the following events during i- operation. Assume that Watson uses the perpetual inventory system. a. Acquired $28,000 cash from the issue of common stock. b. Purchased inventory for $22,400 cash. c. Sold inventory costing $15,700 for $29,000 cash. Required: a. Record the events in a horizontal financial statements model. b. Prepare an income statement for Year 1 (use the multistep format). c. What is the amount of total assets at the end of the period? Complete this question by entering your answers in the tabs below. Required A Required B Required C Recordin a horizontal financial statements model. Note: In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity. account balances and cash outflows with a minus sign. Not all cells in the "Statement of Cash Flows" column may require input needed. Assets Balance Sheet DAN WATSON MERCHANDISING Effect of Events on Financial Statement Stockholders' Equity Income Statement Statemen

Complete this question by entering your answers in the tabs below. Pecord the events in a horkontal financial statements model. Note: In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, and NC for net cha account balances and cash outflows with a minus sign. Not alf cells in the "statement of Cash Flows" column may require an input - leave cell input needed. 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 perpenaal inventory system a. Acquired $28,000 cash from the issue of common slock b. Purchased inventory for 522,400 cash. c. Sold inventory costing $15,700 for $29,000 cash Required: a. Record the events in a horizontal financial statements model. b. Prepare an income statement for Year 1 (use the multistep format) c. What is the amount of total assets at the end of the period? Complete this question by entering your answers in the tabs below. Record the events in a horicontal finandal statements model. input needed. Dan Watson stanted a small merchandsing business in Year 1 The buniness experienced the followng evenss during its first vear of operation. Assume that Watson uses the perpetual imentory system a. Acquired 528,000 cash from the issue of common stock. b. Purchased inventory for $22,400 cash. c. Sold inventory costing $15700 for $29,000 cash. Required: a. Recoed the events in a horizontal financiat statements model b. Prepare an income stadement for Year 1 (use the mulustep formivo c. What is the amosint of tocal assets at the end of the period? Complete this question by entering your answers in the tabs below. Propus as hcome statement for har t (use the muiltiates format). 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 perpetuat inventory system a. Acquired $28,000 cash from the issue of common stock. b. Purchased inventory for $22,400 cash c. Sold inventory costing $15,700 for $29,000 cash Required: a. Record the events in a horizontal financial statements model. b. Prepare an income statement for Year 1 (use the muitistep format) c. What is the amount of total assets at the end of the penod? Complete this question by entering your answers in the tabs below. What is the amount of total assets at the end of the period