$****($I still need the for required parts A$-$ E$)***,$ please answer all parts of the question and use the correct form of table needed$)(1)$ During Year $1,$ Hardy Merchandising Company purchased $$27,000$ of inventory on account.

$(2)$ Hardy sold inventory on account that cost $$20,300$ for $$30,400.$

$(3)$ Cash payments on accounts payable were $$16,900.$

$(4)$ There was $$27,100$ cash collected from accounts receivable.

$(5)$ Hardy also paid $$4,700$ cash for operating expenses

Assume that Hardy started the accounting period with $$21,500$ in both cash and common stock.

Required:

a$.$ Identify the events described in the preceding paragraph and record them in a horizontal statements model like the following one.

Also, in the Statement of Cash Flows column, classify the cash flows as operating activities $($OA$),$ investing activities $($IA$),$ or financing

activities $($FA$).$

b$.$ What is the balance of accounts receivable at the end of Year $1?$

c$.$ What is the balance of accounts payable at the end of Year $1?$

d$.$ What are the amounts of gross margin and net income for Year $1?$

e$.$ Determine the amount of net cash flow from operating activities.

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