M O View History Bookmarks Window Help 26 L0578) Help Save & Exit Submit Check my work Hart, Attorney at Law, experienced the following transactions in 2018, the first year of operations 1 Accepted $36,000 on Apri 1 2018, as a retainer for services to be performed evenly over the next 12 months 2. Performed legal services for cash of $54,000. 3. Purchased $2.800 of office supplies on account. 4. Paid $2.400 of the amount due on accounts payable 5. Paid a cash dividend to the stockholders of $5,000 6. Paid cash for operating expenses of $31,000 7. Determined that at the end of the accounting period $200 of office supplies remained on hand. 8. On December 31, 2018, recognized the revenue that had been earned for services performed in accordance with Transaction 1 Required Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flows column, use the initials OA to designate operating activity, IA for invwesting activity, FA for financing activity, and NC for net change in cash Use NA to indicate accounts not afflected by the event. The first event has been recorded as an example. (Do not round intermediate calculations. Enter any decreases to account balances and cash outflows with a minus sign) Y AT LAW Effect of Transactions on the Financial Statements for 2018 Assets Stockholders No. Cash ExpenseNetStatement of Cash 6,000 36,000 OA B. Pr 5