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Leach incorporated experienced the following events for the first two years of its operations: Yeor 1: 1. Issued $10,000 of common stock for cash. 2.

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Leach incorporated experienced the following events for the first two years of its operations: Yeor 1: 1. Issued $10,000 of common stock for cash. 2. Provided $78,000 of services on account. 3. Provided $36,000 of services and recelved cash. 4. Collected $69,000 cash from accounts recelvable. 5. Paid $38,000 of salaries expense for the year. 5. Paid $38,000 of salaries expense for the year. 6. Ade the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts recelvable balance will be uncollectible. Year 2: 1. Wrote off an uncoliectibie account for $650 2. Provided $88,000 of services on account. 3. Provided $32,000 of services and collected cash. 4. Collected $81,000 cash from accounts recelvable. 5. Paid $65,000 of salaries expense for the yeat. 6. Adjusted the accourts to reflect uncollectible accounts expense for the year, Leach estimates that 5 percent of the ending accounts teceivable 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. Complete this question by entering your answers in the tabs below. tement Cash Flows Prepare the income statement for Year 1. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Complete this question by entering your answers in the tabs below. Prepare the statement of changes in stockholders' equity for Year 1. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year Complete this question by entering your answers in the tabs below. Piepare the balance sheet for Year 1. b. Prepare the income statement. statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Complete this question by entering your answers in the tabs below. Prepare the statement of cash flows for Year 1. Note: Amounts to be deducted and cash outflows should be indicated with a minus sign

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