On January 1 Year 1, Jana started a small flower merchandising business that she named Jana's Flowers. The company experienced the following events during the first year of operations.

1. Started the business by issuing common stock for 30,000 cash. 2. Paid 19,000 cash to purchase inventory. 3. Sold merchandise that cost 10,000 for 21,000on account. 4. Collected 16,000 cash from accounts receivable. 5. Paid 3,750 for operating expenses.

Required a. Organize ledger accounts under an accounting equation and record the events in the account. In the last column of the table, provide appropriate account titles for the Retained Earnings amounts. b-1. Prepare an income statement 0. b-2. Prepare a balance sheet. b-3. Prepare a message about cash flows. c. Since Jana sold inventory for 21,000, she will be able to recover more than half of the 30,000 she invested in the stock. Do you agree with this statement?

Required a. Organize ledger accounts under an accounting equation and record the e provide appropriate account titles for the Retained Earnings amounts: b-1. Prepare an income statement. b-2. Prepare a balance sheet. b-3. Prepare a statement of cash flows. c. Since Jana sold inventory for $21,000, she will be able to recover more thar agree with this statement? Complete this question by entering your answers in the tabs below