Holloway Company started operations on January 1, Year 1. During Year 1, Holloway earned $6,700 of service revenue and collected $5,695 cash from accounts receivable. Required Based on this information alone, determine the following for Holloway Company. (Hint: Record the events in a horizontal financial statements model before satisfying the requirements.) (Enter any decreases to account balances with a minus sign.)

a. The balance of the accounts receivable that would be reported on the December 31, Year 1, balance sheet. ________

b. The amount of net income that would be reported on the Year 1 income statement. ________

c. The amount of net cash flow from operating activities that would be reported on the Year 1 statement of cash flows. ________

d. The amount of retained earnings that would be reported on the Year 1 balance sheet. ________

HOLLOWAY COMPANY Effect of Events on the Year 1 Horizontal Financial Statements Stockholders' Equity Common Assets Liabilities+ onRetained Earnings Event Accounts Cash Receivable +Stock Earned revenue Collected accounts receivable Ending balance