For the cut out statement (FA for financing, or NC for net change in cash . if the element is .....)

During Year 1. Hardy Merchandising Company purchased 517,000 of inventory on account Hardly sold inventory on account that cost $12.800 for $19,100 Cash payments on accounts payable were $10.600. There was $17.000 cash collected from accounts receivable Hardy also paid $3,700 cash for operating expenses. Assume that Hardy started the accounting period with $23.500 in both cash and common stock Required a. Record the events in a honzontal statement model. In the Cash Flow column. Se OA to designate operating activity. A for investment activity. A for financing activity or NC for net change in cash. If the element is not affected by the event, leave the cell blank 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. Complete this question by entering your answers in the tabs below. Reg A Retot Record the events in a horizontal statement model. In the Cash Flow column, use to designate operating activity, IA for investment activity, FA for fir the element is not affected by the event, leave the cell blank. (Not every coll will require try. Enter any decreases to account balances and cash outflo HARDY MERCHANDISING COMPANY Effect of Events on the Financial Statements Balance Sheet Income Statement Liabilities + Stockholders' Equity Net Accounts Common Inventory Revenue Retained Expenses Income Payable Stock Earning 23 500 - Statement of Cash Flows Event Assets Accounts Receivable Cash 23.500 Beg tal 1 2a 3 4 End bal Reqte E > Complete this question by entering your answers in the tabs below. Req Rey B tot What is the balance of accounts receivable, accounts payable, amounts of gross margin, net income and net cash flow from operating activities at the end of Year 17 (Indicate cash outflows with minus sign) Accounts receivable Accounts payable d Grossmangin Net income e. Net cash flow from operating activities