Northwest Sales had the following transactions in 2018: 1. Acquired $54,000 cash from the issue of common stock 2. Purchased $186,000 of merchandise for cash in 2018. 3. Sold merchandise that cost $108,356 for $197,010 during the year under the following terms: $ 54,210 Cash sales 135,690 Credit card sales (The credit card company charges a 3.00 percent service fee.) 7,110 sales on account 4. Collected all the amount receivable from the credit card company 5. Collected $6,541 of accounts receivable. 6. Paid selling and administrative expenses of $40,160 7. Determined that 5.75 percent of the ending accounts receivable balance would be uncollectible. Required a. Record these events in a horizontal statements model. When you record amouns In the Cash Flow column, indicate whether the Item Is an Operating Activity (OA). Investing Activity (IA), or a Financing Activity (FA). If an element is not affected by the event, leave b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for the cell blank 2018 Answer is not complete. Complete this question by entering your answers in the tabs below. Red A Req B1 Req B2 Red B3 Rea 84 Record these events in a horizontal statements model. When you record amouns in the Cash Flow column, indicate whether the item is an Operating Activity (OA), Investing Activ (FA). If an element is not affected by the event, leave the cell blank. (Enter any decreases to account balances and cash outflows with a minus. Round answers to whole de NORTHWEST SALES Horizontal Statements Model The State Balance Sheet Equity Assets pense Merchandise Commor Retained F Prepare an Income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for 2018 Answer is not complete Complete this question by entering your answers in the tabs below. Req Req B1 Reg 12 Reg 83 Reg 14 . Record these events in a horizontal statements model. When you record amouns in the Cash Flow column, indicate whether the item is an operating Activity (OA), Investing Activity (IA), or a Financing Activity (FA). If an element is not affected by the event, leave the cell blank. (Enter any decreases to account balances and cash outflows with a minus sign. Round Aalwers to whole ols) NORTHWEST SALES Horizontal Statement Model Balance Sheet Income Statement Event Assets Equity No. Net Accounts Cash Merchandise Common Revenue Retained Allowance Receivable Inventory Stock Emige 1 54.000 O- 01. 54.000 - DO 0 54.000 2 (180,000) 0- 186000 - D. D (190.000 O 01. (135,000) - DO D DQ- 0 D- 54.210 1. 54210 34.210 O. 54210 54210 0 DO D- 02. 00 O. 7.110 - 3d 00 DO D. D. ol 0. 8.541 DI 0. 5 6.541) 6,541 D- 40.160 - 40.101 140 100101001 0 6 (40.1501 DO - 0 DO 00 DO- 7 - 40, 160 54210 14.050 14.050 0 - 190 199 (111,4001 (142.231) -NA- 54000