Hardt Corporation began business operations and experienced the following transactions during 2012: 1) Issued common stock for $10,000 cash. 2) Provided services to customers for $40,000 on account. 3) Incurred $18,000 of operating expenses on credit. 4) Collected $23,000 cash from customers. 5) Paid $15,000 on accounts payable. Required: a) Record the above transactions in a horizontal financial statements model to reflect their effect on Hardt's financial statements. b) Prepare an income statement, balance sheet and statement of cash flows for 2012.