Marksman Modems, Inc. makes modem cards that are used in notebook computers. The company completed the following transactions during year 1. All purchases and sales were made with cash.

1. Acquired $770,000 of cash from the owners. 2. Purchased $280,000 of manufacturing equipment. The equipment has a $32,000 salvage value and a four-year useful life. Label the purchase of the equipment as Event 2a and the recognition of depreciation as Event 2b. 3. The company started and completed 5,200 modema. Direct materials purchased and used amounted to $42 per unit. 4. Direct labor couts anounted to $27 per unit. 5. The cost of manufacturing supplies purchased and used amounted to $6 per unit. 6. The company paid $52,000 to rent the manufacturing facility. 1. Baird sold all 5,200 units at a cash price of $130 per unit. Label the recognition of the sale as Event 7a and the cost of goods sold as Event 7b. (Hint: It will be necessary to determine the manufacturing costs in order to record the cost of goods sold.) 8. The sales staff was paid a $7.00 per unit sales commission 9. Paid $41,000 to purchase equipment for administrative offices. The equipment was expected to have a $3,200 salvage value and a three-year useful life. Label the purchase of the equipment as Event 'a and the recognition of depreciation as Kvant 9b. 10. Administrative expenses consisting of office rental and salaries amounted to $72,950. Required a. Record the transaction data for Baird Modems, Inc, in the financial statements like the one shown as follows. The first transaction is recorded as an example. b-1. Prepare an income statement b-2. Prepare a balance sheet Complete this question hy enterin Required n. Record the transaction data for Balrd Modems, Inc. in the financial statements like the one shown as follows. The first transaction is recorded as an example, b-1. Prepare an income statement b-2. Prepare a balance sheet. Complete this question by entering your answers in the tabs below. Reg A Reg 1 Reg 2 Record the transaction data for Baird Modems, Inc. in the financial statements like the one shown as follows. The first transaction is recorded as an example. Enter decreases To becount balances with a minus in. Do not round Intermediate calculations. Round your answers to the nearest whole ole amount.) Indome Statut Event Ne BAIRD MODEM, INC Balance Sheet Equity Omice Common Ratained Equip SO Earning 770,000 - - . Cash + Inventory Rev Exp Net ind 770,000 1 26 . 20 . . 3 4 5 6 7a 7b 8 10 Yote 770.000 770.000 Required a. Record the transaction data for Baird Modems, Inc. In the financial statements like the one shown as follows. The first transaction Is recorded as an example. b-1. Prepare an income statement b-2. Prepare a balance sheet. Complete this question by entering your answers in the tabs below. Reg A Req31 Req B2 Prepare an income statement. (Do not round Intermediate calculations. Round your answers to the nearest whole dollar amount.) BAIRD MODEMS, INC Income Statement For the Period Ended December 31, year 1 0 (Reg A Reg 2 > Required . Record the transaction data for Baird Modems, Inc. In the financial statements like the one shown as follows. The first transaction Is recorded as an example. b-1. Prepare an income statement. b-2. Prepare a balance sheet. Complete this question by entering your answers in the tabs below. Req A Req B1 Red B2 Prepare a balance sheet. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount BAIRD MODEMS, INC Balance Sheet As of December 31, year 1 Assets Total assets Equity 5 Total stockholders equity Re B1