Golden Manufacturing Company started operations by acquiring $117,000 cash from the issue of common stock. On January 1, Year 1, the company purchased equipment that cost $107,000 cash, had an expected useful life of five years, and had an estimated salvage value of $10,700. Golden Manufacturing earned $93,580 and $61,880 of cash revenue during Year 1 and Year 2, respectively. Golden Manufacturing uses double-declining-balance depreciation. Required a. Record the above transactions in a horizontal statements model. b-1. Prepare income statements for Year 1 and Year 2. b-2. Prepare balance sheets for Year 1 and Year 2. b-3. Prepare statements of cash flows for Year 1 and Year 2. Complete this question by entering your answers in the tabs below. Req A Req B1 Inc Stmt Req B2 Bal Sheet Req B3 Stmt Cash Record the above transactions in a horizontal statements model. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), a financing activity (FA) and net change in cash (NC). If the element is not affected by the event, leave the cell blank. Enter any decreases to account balances and cash outflows with a minus sign. Do not round intermediate calculations. Round the final answers to nearest dollar amount. Not all cells will require entry.) Year 1 Assets Event Cash Issue stock Purchase equipment Revenue Depreciation expense Balance Year 2 Beg. bal. Revenue GOLDEN MANUFACTURING COMPANY Horizontal Statements Model Balance Sheet BV Equipment = Equity Common Stock Retained Earnings Revenue = + = = Depreciation expense = End. bal. + Income Statement Statement of Cash Expense = Net Income Flows = = < Req A Req B1 Inc Stmt > Show less