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 $31,500 cash from the issue of common stock 2. Purchased inventory for $25,200 cash. 3. Sold inventory costing $18,000 for $30,500 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 B Required C Required D Prey 1 of 3 Next > Complete this question by entering your answers in the tabs below. Required A Required B Requires Required D Post the entries to T-accounts................. Cash Common Stock i Beg. Bal. Beg Bal A TIL / End. Bal. End, Bal Merchandise Inventory Sales Revenue Beg. Bal Beg Bal End. Bal. End Bal End. Bal. End. Bal Merchandise Inventory Sales Revenue Beg. Bal. Beg. Bal. L End. Bal. 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 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 C 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