Exercise 4-48 Recordine inventory transactions in a horisontal financial statements model Farm Tractor Supply experienced the following events during Year I, its first year of operation: 1. Acquined $85,000 cash from the issue of common stock. 2. Purchased inventory for $42,000 cash. 3. Sold inventory costing $25,000 for $56,000 cash. 4. Paid $3.000 for advertising expense. Required Recond the events in a horizontal financial statements model like the one shown next. EXERCISE 4-4B