please answer whole question. IT IS A 5 PART QUESTION.

Exercise 7-21A (Algo) Current liabilities LO 7-1, 7-2, 7-4, 7-10 The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company received $49,000 from the issue of common stock. 2. Purchased equipment inventory of $178,000 on account. 3. Sold equlpment for $204,500 cash (not including sales tax). Sales tax of 6 percent is collected when the merchandise is sold. The merchandise had a cost of $129,500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 4 percent of sales. 5. Paid the sales tax to the state agency on $154,500 of the sales. 6. On September 1, Year 1, borrowed $20,000 from the local bank. The note had a 5 percent interest rate and matured on March 1, Year 2. 7. Paid $5,500 for warranty repairs during the year. 8. Pald operating expensos of $53,000 for the year. 9. Paid $125,200 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6. Required: a. Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash flows as operating actvities (OA), investing activities (IA), or financing activities (FA). b. Prepare the income statement, balance sheet, and statement of cash flows for Year 1 . c. What is the total amount of current liablities at December 31 , Year 1 ? Answer is not complete. Complete this question by entering your answers in the tabs below. dassify the cash flows as operating activities (OA), investing activities. (IA), or financing activities (FA). Notei Leave ceils blank if no input ia needed, b. Propare the income statement, balance sheet and statement of cash fows for Year 1 c. What is the sotal amourt of current lobates at Cecember 31, Year I? Complete this question by entering your answers in the tabs belew. Notel leave tells tlenk if no input in needed. cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement o the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). b. Prepare the income statement, balance sheet, and statement of cash flows for Year 1. c. What is the total amount of current liabilities at December 31 , Year 1 ? Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the income statement for Year 1. Note: Round your answers to the nearest whole dollar. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the balance sheet for Year 1. Note: Round your answers to the nearest whole dollar. Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare the statement of cash flows for Year 1. Note: Cash outflows should be indicated with a minus sign. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warri of sales. 5. Paid the sales tax to the state agency on $154,500 of the sales. 6. On September 1, Year 1, borrowed $20,000 from the local bank. The note had a 5 percent inte Year 2. 7. Paid $5,500 for warranty repairs during the year. 8. Paid operating expenses of $53,000 for the year. 9. Paid $125,200 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6. Required: a. Use a horizontal financial statements model to show how each event affects the balance sheet, cash flows. More specifically, record the amounts of the events into the model. Also, in the Stater the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). b. Prepare the income statement, balance sheet, and statement of cash flows for Year 1. c. What is the total amount of current liabilities at December 31, Year 1? Complete this question by entering your answers in the tabs below. What is the total amount of current liabilities at December 31, Year 1 ? Note: Round your answer to the nearest whole dollar