NA Cowboy Ice Cream reported the following events during Year of operation 1. Acquired $13,500 cash from the issue of common stock 2. Purchased Inventory for $6,500 cash 3. Sold Inventory costing $3,000 for $6,630 cash 4. Paid $600 for advertising expense Required Record the events in a horizontal statement model in the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. (Not every cell will require entry. Enter any decreases to account balances and cash outflows with a minus sign.) Assets COWBOY ICE CREAM COMPANY Effect of Events on the Financial Statements Stockholders' Equity Common Retained Revenue Expenses Stock Earnings Net Income Statuinent of Cash Flows Event Cash + Inventory 1 2 3a. 3b. 4 al