Hep The following events apply to Guiltf Seafood for the 2018 fiscal year 1. The company started when it acquired $60,000 cash by issuing common stock 2. Purchased a new cooktop that cost $40,000 cash 3. Earned $72,000 in cash revenue. 4. Paid $25,000 cash for salaries expense 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, 2018, the cooktop has an expected useful life of four years and an estimated salvage value of $4,000 Use straight-line depreciation. The adjusting entry was made as of December 31, 2018 Required Record the above transactions in a horizontal statements model like the following one. (In the Cosh Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA),a financing activity (FA) and net change in cash (NC). The letters NA indicate that an element is not affected by the event. Enter any decreases to account balances and cash outnows with minus sign.) Horizoetal Statements Model Balance Sheet Income Statement Statement of Cash Flows Event Assets Equity Common R Revenue -Expense Net Income Cash Equipment Bal SAMSUNG