Leach Inc. experienced the following events for the first two years of its operations: Part 2 of 4 Year 1 1. Issued $18,000 of common stock for cash. 2. Provided $86,800 of services on account. 3. Provided $44,000 of services and received cash. 4. Collected $77,000 cash from accounts receivable. 5. Pald $46,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent 9.09 points eBook of the ending accounts receivable balance will be uncollectible. 7. Closed the revenue account. 8. Closed the expense account. Prin Year 2: 1. Wrote off an uncollectible account for $750. 2. Provided $96,000 of services on account. 3. Provided $40,000 of services and collected cash. 4. Collected $89,000 cash from accounts receivable S. Paid $73,000 of salaries expense for the year 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts recelvable balance will be uncollectible. Part 2 of 4 Exercise 7 -7A Part b 9.09 points b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year 1 Statement of Cash Flows and Balance Sheet only: Items to be deducted must be indicated with a minus sign.) eBook LEACH INC. Income Statement For the Year Ended December 31, Year 1 Print References Total operaing expenses Part 2 of 4 9.09 points LEACH INC Statement of Changes in Stockholders Equity For the Year Ended December 31, Year 1 eBook Print References Total stockholders equity Part 2 of 4 9.09 points LEACH INC. Balance Sheet As of December 31, Year 1 Assets eBook Print References Total assets Liabilities Stockholders' equity Total stockholders' equity Total liabllities and stockholders' equity Part 2 of 4 LEACH INC. Statement of Cash Flows For the Year Ended December 31, Year 1 9.09 points Cash flow from operating activities eBook Print Net cash tlow from operating activities Cash flows from investing activities Cash flows from financing activities References Net change in cash Ending cash balance