Leach Incorporated experienced the following events for the first two years of its operations:

Year $1$:

Issued $$10,000$ of common stock for cash.

Provided $$80,000$ of services on account.

Provided $$33,000$ of services and received cash.

Collected $$47,000$ cash from accounts receivable.

Paid $$18,000$ of salaries expense for the year.

Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that $6$ percent of the ending accounts receivable balance will be uncollectible.

Year $2$:

Wrote off an uncollectible account for $$2,690.$

Provided $$100,000$ of services on account.

Provided $$25,000$ of services and collected cash.

Collected $$82,000$ cash from accounts receivable.

Paid $$22,000$ of salaries expense for the year.

Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that $6$ percent of the ending accounts receivable balance will be uncollectible.

b$.$ Prepare the income statement, statement of changes in stockholders$$ equity, balance sheet, and statement of cash flows for Year $1.$