Gunn Manufacturing Company experienced the following accounting events during its first year of operation. With the exception of the adjusting entries for depreciation, assume that all transactions are cash transactions.

1.	Acquired $53,000 cash by issuing common stock.
2.	Paid $7,500 for the materials used to make its products, all of which were started and completed during the year.
3.	Paid salaries of $4,300 to selling and administrative employees.
4.	Paid wages of $6,100 to production workers.
5.	Paid $5,900 for furniture used in selling and administrative offices. The furniture was acquired on January 1. It had a $1,700 estimated salvage value and a three-year useful life.
6.	Paid $8,000 for manufacturing equipment. The equipment was acquired on January 1. It had a $1,000 estimated salvage value and a two-year useful life.
7.	Sold inventory to customers for $25,100 that had cost $13,500 to make.

Required

Show how these events would affect the balance sheet, income statement, and statement of cash flows by recording them in a horizontal financial statements model as indicated here. Also, in the Cash Flow column, indicate whether the cash flow is for operating activities (OA), investing activities (IA), or financing activities (FA). Use NA to indicate that an element is not affected by the event. The first event is recorded as an example. (Enter any decreases to account balances and cash outflows with a minus sign.)

GUNN MANUFACTURING COMPANY Financial Statements Model Statement of Cash Flow Income Statement Equity Assets Retained Earnings Net Income Event Common+ Office Furniture Manufacturing+ Revenue- Expense stock 53,000+ No. CashI Inventory Equipment 53,000 FA 53,000 + 2. 3. 4 5b. 6b. 7b. Total