During Year 1, Hardy Merchandising Company purchased $13,000 of inventory on account Hardy sold inventory on account that cost $9,800 for $14,600 Cash payments on accounts payable were $8,100. There was $13,000 cash collected from accounts receivable. Hardy also paid $3.300 cash for operating expenses. Assume that Hardy started the accounting period with $25,500 in both cash and common stock Required a. Identify the events described in the preceding paragraph and show them in a horizontal statements model. The first event is recorded as an example. b. What is the balance of accounts receivable at the end of Year 1? c. What is the balance of accounts payable at the end of Year 1? d. What are the amounts of gross margin and net income for Year 1? e. Determine the amount of net cash flow from operating activities. Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Required Identify the events described in the preceding paragraph and show them in a horizontal statements model. The first event is recorded as an example. (In the Cash Flow column, use the initials "OA" for operating activities, "FA" for financing activities, and "NC" for net change in cash. Not all cells in the Statement of Cash Flows' column may require an input - leave cells blank if there is no corresponding input needed.) Show less HARDY MERCHANDISING COMPANY Effect of Events on the Financial Statements Balance Sheet Liabilities + Stockholders' Equity Revenue Accounts Retained Common Inventory Payable Stock Earnings 25,500 Income Statement - Expenses = Net Income Statement of Cash Flows Assets Accounts Receivable Events Cash + 25 500 Bog tal 1 Purin 2a Sold in 2b Invcost 3 Pd. AP 4. Coll. AR 5. Pd. exp. End, bal B. What is the balance of accounts receivable at the end of year 1? C. What is the balance of accounts payable at the end of Year 1? D. What are the amounts of gross margin and net income for year 12 E. Determine the amount of net cash flow from operating activities. (Indicate cash outflows with minus sign.)