Mathys Review view Help uses. Unless you need to edit, it's safer to stay in Protected View Enable Editing Exercise 2-38 Calculate missing amounts and interpret results The following horizontal financial statements model shows the transactions experienced by Surf's Up Industries during Year 1. The table contains missing data that are labeled with alphabetic characters () through (n). Accome all transactions shown in the accounting equation are cash transactions Balance Sheet Income Statement Assets Lab. + Stockholders' Equity Statement of Cash Flows Event Cash + Land Notes Pay. + Com. Stk. + Rota Exp. Net Inc. NA 0 NA NA 0 + 500 000 400.000 (475.000) + the + I 30,000 0 . 0 N A 400.000 NA NA NA N A - NA NA NA 115.000) 400.000 - 500 000 - 10.000 s . NA NA NA 475.000 500.000 FA 400.000 475.000 105.000 (80.000) OA (15.000 435.000 NC 105.000 0.000) NA 25.000 (15.000) 10.000 Required Use amounts orphabetic este o fill the n e ed by each character the at the the letter NA to indicate that an esset in related to the alpha character shown in the model the the letter FA to represent financing acthily A to represent investing thithen ato represent operating activities and NC to represent at chanan Determine the local amount of assets that will appear on the Deccenter 31 Year relance sheet Determine the total amount of not income that will appear on the incontestatement Edmondt.FAB_10_CH02. Working Papers (0) - Protected ViewSaved Search Greer out References Mailings Review View Help Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View Enable Editing EXERCISE 2-38 a. (cont.) Surf's Up Industries Horizontal Statements Model for Year 1 Income Statement Revenue - Expense - Net Inc. Statement of Cash Flows Balance Sheet Liab. - Stockholders' Equity Notes Common Retained Payable - Stock Earnings Assets Cash + Land + NA (b) NA c) 500,000 FA NA NA NA dy NA NA 500,000 400,000 (475,000) h) (80,000) (15000) (m) NA (a) 400,000 + NA NA NA NA NA 400000 - 50.000 105.000 NA (R)- 105,000 (30,000) NA NA NA 475,000 105.000 OA (80,000) (15,000) 10.000 30,000 25000 b. Total Assets c. Net Income = d. Net Cash Flow from Investing Activities - Backspace