(Enter any decreases to account balances and cash outflows with a minus sign.) Balance Sheet LEWIS AND HARPER Horizontal Statements Model For Accounting Year 1 Stockholders' Assets Liabilities Accounts Accounts Salaries Equity Retained Event No. Cash + Receivable = Payable + Payable + Earnings Revenue 1 + 70,000 = + + 70,000 70,000 2345 + = + + + + + + = + + + + + 6 + = + + 7 + = + + 8 + = + + Totals + + + b. What is the amount of total assets at the end of Year 1? c. What is the balance of accounts receivable at the end of Year 1? Income Statement Net Statement of Cash Expense = Income Flows = 70,000 = = = = = = =