Ook int The Candle Shop experienced the following events during its first year of operations, Year 1: 1. Acquired cash by issuing common stock. 2. Paid a cash dividend to the stockholders. 3. Paid cash for operating expenses. 4. Borrowed cash from a bank. 5. Provided services and collected cash. 5. Purchased land with cash. 7. Determined that the market value of the land is higher than the historical cost. tequired: Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of ash flows. Indicate whether the event increases (), decreases (D) each part of the financial statements model. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). The first ransaction is shown as an example. lote: Not all cells will require an input. ask THE CANDLE SHOP Horizontal Statements Model for Year 1 Balance Sheet Income Statement Statement of Cash Flows Event Number Assets Cash Land Liabilities Notes Payable Stockholders' Equity Common Retained Revenue Expense Net Income: Effect on Cash Type of Activity Stock Earnings 1. 1 + + 1 FA 2 + 3 + + 4 + + 5. + 6 7.