Life, Inc., experienced the following events in Year 1, its first year of operation: 1. Performed counseling services for $22,800 cash. 2. On February 1, Year 1, paid $15,600 cash to rent office space for the coming year. 3. Adjusted the accounts to reflect the amount of rent used during the year. Required Based on this information alone: a. Record the events under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. c. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 2? ACG3173_CMB-22Spring 00100 x 9 Module 1 Textbook Problems i 1 points Hint Print Question 9 - Module 1 Textbook Prox Homework Help - Q&A from Orx Mc Graw Hill Type here to search https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252F Req B1 Inc Stmt Req A Req B2 Bal Sheet Req B3 CF Stmt Prepare an income statement for the Year 1 accounting period. (Do not round intermediate calculations.) LIFE, INC. Income Statement For the Year Ended December 31, Year 1 < Req A < Prev Saved H + Req C Req B2 Bal Sheet > 9 of 10 T Next > Help Save & Exit Submit 47F Check my work h 10:12 PM 1/22/2022 ||| = ACG3173_CMB-22Spring 00100 x 9 Module 1 Textbook Problems 1 points Hint Print Question 9 - Module 1 Textbook P X Homework Help - Q&A from Orx https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252F Mc Graw Hill Type here to search LIFE, INC. Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash Ending cash balance O < Req B2 Bal Sheet < Prev H Saved + 9 of 10 T Req C > Next > Help Save & Exit Submit 46F Check my work h 10:15 PM 1/22/2022 ||| = ACG3173_CMB-22Spring 00100 x 9 Module 1 Textbook Problems i 1 points Hint Print Question 9 - Module 1 Textbook Prox Homework Help - Q&A from Orx https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252F Mc Graw Hill Type here to search c. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 2? Req A Complete this question by entering your answers in the tabs below. Req B1 Inc Stmt Req B2 Bal Sheet O Req B3 CF Stmt Saved Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 2? (Do not round intermediate calculations.) Rent expense to be recognized in Year 2 < Req B3 CF Stmt < Prev + H Req C 9 of 10 Req C > T Help Next > Save & Exit 46F Submit Check my work h 10:15 PM 1/22/2022 ||| =