Help You received partial credit In the previous attempt. Check my work Exercise 3-7A Unearned items on financial statements LO 3-3 Yard Designs (YD) experienced the following events in Year 1, its first year of operation: 1. On October 1, Year 1, YD collected $22,800 for consulting services it agreed to provide during the coming year. 2. Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1. Required Based on this information alone: a. Record the events under an accounting equation. (Do not round Intermediate calculations. Enter any decreases to account balances with a minus sign.) Event YARD DESIGNS Accounting Equations for the Year 1 Assets Llabilities Stockholders Equity Cash Unearned Retained Revenue Eamingo 22,800 22.800 (5,700) 5,700 22,800 17,100+ 5,700 . Event Adj. Check my work Assets Event Cash Stockholders Llabilities Equity Unearned Retained Revenue Earnings 22,800 (5,700) 5,700 17,100+ 5,700 22,800 Event Adj. 22,800 20 b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. (Do not round Intermediate calculations.) YARD DESIGNS Income Statement For the Year Ended December 31, Year 1 $ 0