Gifford Company experienced the following accounting events during Year $1$:

Started operations on January $1$ when it acquired $$26,000$ cash by issuing common stock.

Earned $$25,200$ of revenue on account.

On March $1$ collected $$43,200$ cash as an advance for services to be performed in the future.

Paid cash operating expenses of $$23,000.$

Paid a $$3,300$ cash dividend to stockholders.

On December $31,$ Year $1,$ adjusted the books to recognize the revenue earned by providing services related to the advance described in Event $3.$ The contract required Gifford to provide services for a one$-$year period starting March $1.$

Collected $$21,000$ cash from accounts receivable.

Gifford Company experienced the following accounting events during Year $2$:

Recognized $$45,200$ of cash revenue.

On April $1,$ paid $$12,720$ cash for an insurance policy that provides coverage for one year beginning immediately.

Collected $$2,600$ cash from accounts receivable.

Paid cash operating expenses of $$27,000.$

Paid a $$5,600$ cash dividend to stockholders.

On December $31,$ Year $2,$ adjusted the books to recognize the remaining revenue earned by providing services related to the advance described in Event $3$ of Year $1.$

On December $31,$ Year $2,$ Gifford adjusted the books to recognize the amount of the insurance policy used during Year $2.$

Required

a$.$ Record the events in a financial statements model. The first event is recorded as an example.

b$.$ What amount of revenue would Gifford report on the Year $1$ income statement?

c$.$ What amount of cash flow from customers would Gifford report on the Year $1$ statement of cash flows?

d$.$ What amount of unearned revenue would Gifford report on the Year $1$ and Year $2$ year$-$end balance sheets?

e$.$ What are the Year $2$ opening balances for the revenue and expense accounts?

f$.$ What amount of total assets would Gifford report on the December $31,$ Year $1,$ balance sheet?