Life, Incorporated experienced the following events in Year 1, its first year of operation: Performed counseling services for $20,400 cash. On February 1, Year 1, paid $13,800 cash to rent office space for the coming year. Adjusted the accounts to reflect the amount of rent used during the year. Required Based on this information alone: a. Record the events in general ledger accounts 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? Prepare an income statement for the Year 1 accounting period. Prepare a balance sheet for the Year 1 accounting period. Prepare a statement of cash flows for the Year 1 accounting period. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 2?