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The following events apply to Gulf Seafood for the Year 1 fiscal years 1. The company started when it acquired $18.000 cash by issuing common stock 2. Purchased a new cooktop that cost $12 200 cash. 3. Earned $20.400 in cash revenue 4. Paid $11.900 cash for salaries expense 5. Adjusted the records to reflect the use of the cooktop Purchased on January 1 Year 1, the cooktop has an expected useful life of four years and an estimated salvage value of $2,600 Use straight-line depreciation. The adjusting entry was made as of December 31, Year 1 Required 6. Record the above transactions in a horizontal statements model b. What amount of depreciation expense would Gulf Seafood report on the Year 1 income statement? c. What amount of accumulated depreciation would Gulf Seafood report on the December 31 Year 2, balance sheer? d. Would the cash flow from operating activities be affected by depreciation in Year 1? Record the above transactions in a horizontal statements model b. What amount of depreciation expense would Gulf Seafood report on the Year income statement? c. What amount of accumulated depreciation would Gur Seafood report on the December 31 Year 2 balance sheet d. Would the cash flow from operating activities be affected by depreciation Year it Complete this question by enter your answers in the tabs below. RA Roto 0 Record the above transactions in a hontal Matamente model the content (tALanding activity or thing will be to w cash out with No co will how GREAT OCD Hot Model Balance Wom con Malo Even A Balash LIV ESS Net mine Sh 2 . . tal Reto) Required a. Record the above transactions in a horizontal statements model b. What amount of depreciation expense would Gulf Seafood report on the Year 1 income statement? c. What amount of accumulated depreciation would Gulf Seafood report on the December 31, Year 2, balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 1? Complete this question by entering your answers in the tabs below. Req A Req B to D b. What amount of depreciation expense would Gulf Seafood report on the Year 1 Income statement? c. What amount of accumulated depreciation would Gulf Seafood report on the December 31, Year 2, balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 1? b. Depreciation expense on Year 1 income statement c. Accumulated depreciation on December 31. Year 2 balance sheet d. Would the cash flow from operating activities be affected by depreciation in Year 1