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Justin Swords started a small merchandising events during its first year of operation. Assume that Swords uses the perpetual inventory system in 2014. The business experienced the following Acquired $53,000 cash from the issue of common stock 2. Purchased inventory for $27,000 cash. 3. Sold inventory costing $17,000 for $29,000 cash Required a. Record the events in a statements model like the one shown below. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for f cash and NA to indicate the element is not affected by the event The first event is recorded as an example. (Enter any decreases to account balances and cash outflows with a minus sign.) g activity, NC for net change in .. JUSTINSWORDS MERCHANDISING stockholders' Equity nsesNet Flows Event Cash Cash + Inventory -eStock? 53,000 FA 53,000 + 53,000 3b Total