hapter 2 Homework-Algo 4 Saved 3 points Skipped eBook Hint Print References Pizza Express Incorporated began the Year 2 accounting period with $9,000 cash, $7,000 of common stock, and $2,000 of retained earnings. Pizza Express was affected by the following accounting events during Year 2: 1. Purchased $11,000 of supplies on account. 2. Earned and collected $25,000 of cash revenue. 3. Paid $9,500 cash on accounts payable. 4. Adjusted the records to reflect the use of supplies. A physical count indicated that $2,400 of supplies was still on hand on December 31, Year 2. Required a. Show the effects of the events on the financial statements using a horizontal statements model. In the Statement of Cash Flows column, use OA to designate operating activity, FA for financing activity, IA for investing activity, and NC for net change in cash. If the element is not affected by the event, leave the cell blank. The beginning balances have been entered as an example. (Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require entry.) Check my work decreases to account balances and cash outflows with a minus sign. Not all cells require entry.) Check my work PIZZA EXPRESS INCORPORATED Horizontal Statements Model Balance Sheet Event No Assets Cash Supplies Liabilities Accounts Payable Stockholders' Equity Income Statement Statement of Cash Flows Common Retained Revenue Expense Net Income Stock Earnings Beg bal 9,000+ 7,000 2,000 1 2 3. 4. Totals 9,000 0 7,000+ 2,000 0