Help Save & alt Suomi Check my work 4 14.28 points The following events apply to Gulf Seafood for the Year 1 fiscal year 1. The company started when it acquired $17,000 cash by issuing common stock 2. Purchased a new cooktop that cost $12.800 cash 3. Earned $22,800 in cash revenue. 4. Paid $10,100 cash for salaries expense 5. Adjusted the records to reflect the use of the cooktop Purchased on January 1 Year 1, the cooktop as an expected useful We of four years and an estimated salvage value of $3,000 Use straight line depreciation. The adjusting entry was made as of December 31, Yeart H Required a. Record the above transactions in a horizontal statements model b. What amount of depreciation expense would Gulf Seafood report on the Year income statement? c. What amount of accumulated depreciation would Gulf Seafood report on the December 31 Year 2, balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Your Complete this question by entering your answers in the tabs below. RAGA RGBD Record the above transactions in a horsontal statements model. In the Cash Flowcom, indicate whether the item is an operating activity (OAX an investing activity (IA), a financing activity (FA), or ne change in cash (NC). If the element is not affected by the event, leave the link ter any decreases to account balances and cash outflow with a minus sign. Not all cells will require entry) GULF SEAFOOD Horizontal Statement Model Balance Sheet Income and Statement of C Event Assets Equity Flora Complete this question by entering your answers in the tabs below. Red A Req B to D 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), of 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. Not all cells will require entry) GULF SEAFOOD Horizontal Statements Model Balance Sheet Income Statement Assets Equity BV Common Retained Revenue Expense Net Income Equipment Stock Earning Event Statement of Cash Flows Cash 1. 2 3. 4. 5. Ba 0 0. 0 0- 0- 0 KE Req B to D > report on the Year 1 Income statement? c. What amount of accumulated depreciation would Gulf Seafood report on the December 31, Year 2, balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 12 Complete this question by entering your answers in the tabs below. Reg A Reg B to D b. What amount of depreciation expense would Gulf Seafood report on the Year 1 income statement? c. What amount of accumulated depreciation would Gulf Seafood report on the December 31, Year 2, balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 1? b. Depreciation expense on Year 1 income statement Accumulated depreciation on December 31, Year 2, balance sheet d. Would the cath flow from operating activities be affected by depreciation in Year 12 ReqA Rugbon