I need help answering number 8.

Hart, Attorney at Law, experienced the following transactions in 2018, the first year of operations:

1. Accepted $15,300 on April 1, 2018, as a retainer for services to be performed evenly over the next 12 months.

2. Performed legal services for cash of $60,500.

3. Purchased $1,150 of office supplies on account.

4. Paid $1,035 of the amount due on accounts payable.

5. Paid a cash dividend to the stockholders of $5,000.

6. Paid cash for operating expenses of $20,800.

7. Determined that at the end of the accounting period $130 of office supplies remained on hand.

8. On December 31, 2018, recognized the revenue that had been earned for services performed in accordance with Transaction 1.

Required

Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity, and NC for net change in cash. Use NA to indicate accounts not affected by the event. The first event has been recorded as an example. (Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign.)

HART, ATTORNEY AT LAW
Effect of Transactions on the Financial Statements for 2018
	Assets			=	Liabilities			+	Stockholders' Equity	Income Statement
Event No.	Cash	+	Supplies	=	Accounts Payable	+	Unearned Revenue	+	Retained Earnings	Revenue		Expense	=	Net Income	Statement of Cash Flow
1.	15,300	+		=		+	15,300	+					=		15,300	OA
2.	60,500	+	0	=	0	+	0	+	60,500	60,500		0	=	60,500	60,500	OA
3.	0	+	1,150	=	1,150	+	0	+	0	0		0	=	0	0	NA
4.	(1,035)	+	0	=	(1,035)	+	0	+	0	0		0	=	0	(1,035)	OA
5.	(5,000)	+	0	=	0	+	0	+	(5,000)	0		0	=	0	(5,000)	FA
6.	(20,800)	+	0	=	0	+	0	+	(20,800)	0		20,800	=	(20,800)	(20,800)	OA
7.	0	+	(1,020)	=	0	+	0	+	(1,020)	0		1,020	=	(1,020)	0	NA
8.		+		=		+		+					=			NA
Totals	48,965	+	130	=	115	+	15,300	+	33,680	60,500		21,820	=	38,680	48,965