NEED ANSWER TO B1, TABLE NEEDS TO BE FILLED

Events Affecting the Year 1 Accounting Period 1. Acquired $78,000 cash from the issue of common stock. 2. Purchased $4,800 of supplies on account. 3. Purchased land that cost $54,000 cash. 4. Paid $4,800 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $78,000. 6. Paid $39,000 cash for other operating expenses. 7. Collected $56,000 cash from accounts receivable. Information for Year 1 Adjusting Entries 8. Recognized accrued salaries of $5,000 on December 31 , Year 1. 9. Had $2,000 of supplies on hand at the end of the accounting period. Events Affecting the Year 2 Accounting Period 1. Acquired $38,000 cash from the issue of common stock. 2. Paid $5,000 cash to settle the salaries payable obligation. 3. Paid $9,000 cash in advance to lease office space. 4. Sold the land that cost $54,000 for $54,000 cash. 5. Received $10,200 cash in advance for services to be performed in the future. 6. Purchased $2,800 of supplies on account during the year. 7. Provided services on account of $50,000. 8. Collected $51,000 cash from accounts receivable. 9. Paid a cash dividend of $4,000 to the stockholders. 10. Paid other operating expenses of $37,500. Information for Year 2 Adjusting Entries 11. The advance payment for rental of the office space (see Event 3) was made on March 1 for a one-year term. 12. The cash advance for services to be provided in the future was collected on October 1 (see Event 5). The one-year contract started on October 1. 13. Had $2,100 of supplies remaining on hand at the end of the period. 14. Recognized accrued salaries of $5,700 at the end of the accounting period. 15. Recognized $2,200 of accrued interest revenue. b-1. Prepare an income statement for Year 1 and Year 2. ALCORN SERVICE COMPANY Income Statements For the Years Ended December 31, Year 1 and Year 2