Golden Manufacturing Company started operations by acquiring $98,000 cash from the issue of common stock. On January 1, Year 1, the company purchased equipment that cost $88,000 cash, had an expected useful life of five years, and had an estimated salvage value of $8,800. Golden Manufacturing earned $94,250 and $66,300 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. 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 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 w not round intermediate calculations, Round the final answers to nearest dollar amount. Not all cells will require entry.) GOLDEN MANUFACTURING COMPANY Year 1 Horizontal Statements Model Balance Sheet Income Statement Assets Equity Event BV Common Cash Equipment Stock Retained Earnings Revenue. Expense Not Income Statement of Cash Flows Issue stock Purchase equipment Revenue Depreciation expense Balance . 0+ 0 0 0 0 0 Year 2 Beg. bal Revenue Depreciation expense End bal + + 0 . Reg A 0 Req B1 Inc Stmt > 0 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 Prepare income statements for Year 1 and Year 2. (Do not round intermediate calculations. Round the dollar amount.) GOLDEN MANUFACTURING COMPANY Income Statements For the Year Ended December 31 Year 1 Year 2 Req A Req B2 Bal Sheet > Req B1 Inc Req A Req B2 Bal Req B3 Stmt Stmt Sheet Cash Prepare balance sheets for Year 1 and Year 2. (Do not round intermediate calculations. Round the final answers to nearest dollar amount.) GOLDEN MANUFACTURING COMPANY Balance Sheets As of December 31 Assets Total Assets Stockholders' equity Year 1 Year 2 $ 0 $ 0 Total stockholders' equity $ 0 $ 0 Complete this question by entering your answers in the taps below. Req B1 Inc Req A Stmt Req B2 Bal Sheet Req B3 Stmt Cash Prepare statements of cash flows for Year 1 and Year 2. (Cash outflows should be indicated with a minus sign. Do not round intermediate calculations. Round the final answers to nearest dollar amount.) GOLDEN MANUFACTURING COMPANY Statements of Cash Flows For the Year Ended December 31 Cash flows from operating activities: Cash flows from investing activities: Cash flows from financing activities: Net change in cash Year 1 Ending cash balance $ 0 $