Izza Express Inc. began the Year 2 accounting period with $10,000 cash, $7,000 of common stock, and $3,000 of retained arnings. Pizza Express was affected by the following accounting events during Year 2. Purchased $10,000 of supplies on account Earned and collected $24,000 of cash revenue. Paid $8.500 cash on accounts payable. Adjusted the records to reflect the use of supplies. A physical count indicated that $2.300 of supplies was still on hand on December 31, Year 2 equired Show the effects of the events on the financial statements using a horizontal statements model given below. In the Cash Flows column, use OA to designate operating activity, FA for financing activity. IA for investing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. The beginning balances have been entered as an example (Enter any decreases to account balances and cash outflows with a minus sign. Not all cells will require entry) int unce Assets Event No. PIZZA EXPRESS INC Effect of Events on Financial Statements for Year 2 . Stockholders' Equity Income Statement Common Retained Revenue Stock Earning Expense 7.000 3,000 Liabilities Accounts Payable Cash + Supplies Statement Net Income 10,000+ Bogbal 1 2 3 4 + Totals 10.000- 0 7.0001 3.000 0 Prov 1 of 11 Next