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 recevable from the credit card company 5. Collected $6,541 of accounts receivable. 6. Pald 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 the cell blank. b. 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. Reg A Re B1 Req 82 Reg 14 Reg B3 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 Act (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 final answers to who NORTHWEST SALES Horizontal Statements Model Income Statement Balance Sheet b. 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. Reg A Reg 1 Reg 12 Reg 3 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 final answers to whole dos.) Income Statement Stalo Event No. Revenue Expense Cash oe 1 2. 54000 1. 0 54210 - og 0- 54210 - 0 7.110- - 00- DO 100.350 NORTHWEST SALES Horizontal Statement Model Balance Sheet Assets Equity Accounts Merchandise Retained Common Recevano Allowance Inventory Stock Earnings 0 0. 54,000 0 o 180,000 . 38.654 - 0 D. 00 01- 0. OS 54210 0 . (108.350) - 0 100.350 7,110 . 00 7.110 (1316101 - 0. .. 0 O. . 0. 16.541) 00 DI 0 (40,160) 01 33 0 77.644 - 33 87 228 54000 142 396 Re> 3a 54.000 1. (166.000) 0- 54.210 1. 01. O. 131.619 6,541 l. (40.1001 - 1135.00 54 25 (08. 7.110 3 3e 131.019 3d 0 01001 5 6 0 40150 - JOS 148.54 00 61120 272,3103 7 20 210 Nee >