Double Trouble Company makes eBook readers.The company had the following amounts at the beginning of 2016 Cash Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Common Stock Retained Ear 6,900,000 530,000 200,000 450,000 S 6,060,000 $ 2,020,000 250,000 of research and development costs. 570,000 for raw materials that will be used to make eBook readers. 1. Paid 2. Paid 3. Placed 4. Paid 5. Paid 6. Paid 7 Recognized depreciation on the office equipment. The equipme t was acquired on January 000,000 of the raw materials cost into the process of manufacturing eBook readers. 750, 000 for salaries of selling and administrative em ,200,000 for wages of production workers. 1,080,000 to purchase equipment used in selling and administrative offices life 110,000 salvage value and a 2016. It has a 8. Paid 9. Recognized depreciation on the manufacturing equipment. The equipment was acquired on Jan 1 S 2,500,000 cash to purchase manufacturing equipment. SO salvage value and a 550,000 for rent and utility costs on the manufacturing facility 00,000 for inventory holding expenses for completed eBook readers (rental of year life 2016. It has a 10. Paid 11. Paid warehouse space, salaries of warehouse personnel, and other general storage cost, this is not cost of goods) nventory to finished goods 12. Completed and transferred eBook readers that had total cost of $3,000,000 |from work in process S. 5,000,000 cash $2.750,000 to make the eBook readers sold in Event 13 10,000 eBook readers for 13. Sold 14. It cost Double Trouble REQUIRED Show how these events affect the balance sheet, income statement, and statement of cash flows by recording them in a horizontal financial statements model. Hint : there are six asset accounts-you will need to adjust the template given and Include more asset accounts. Double Trouble's recognition of cost of goods sold had no impact on cash flow c. Prepare a schedule of cost of goods manufactured and sold, a formal income statement, and a balance sheet for the year. On the Balance sheet, split out the 3 different inventory accounts d. Distinguis hbetween the product costs and the upstream costs that Double Trouble Incurred