Joe Roberts, a retired navy seal operator, started Special Ops Security which focuses on providing personal protection to high profile Individuals. The company experienced the following events during its first year of operations, Year 1: 1. Acquired $634,000 cash from the Issuance of common stock. 2. Special Ops Security Incurred $162,500 of operating expenses on account during Year 1. 3. The company made cash payments of $125,500 to reduce its accounts payable during Year 1. Required: Use a horizontal financial statements model to show how each event affects the balance sheet, Income statement, and statement of cash flows. More specifically, record the amounts of the events Into the model. The first transaction is shown as an example. Note: In the Cash Flow column, use OA to designate operating activity, IA for investment activity. FA for financing activity, and NC for net change in cash. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require an Input - leave cells blank if there is no corresponding input needed. Balance Sheet Income Statement Event Number Assets Cash Accounts Receivable Liabilities Accounts Common Payable Stock Stockholders' Equity Retained Earnings Statement of Cash Flows Revenue Expenses Net Income 1. 634,000 = 834,000+ 834,000 FA 2. = + 3. + Total 634,000 0 = 634,000+ 0 0 0 634,000