Please check the work I have already done and complete the horizontal statement model.

The following transactions apply to Ozark Sales for Year 1 : 1. The business was started when the company recelved $50,000 from the issue of common stock. 2. Purchased equipment inventory of $177,000 on account. 3. Sold equipment for $206,000 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $131,000. 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 $156,000 of the sales. 6. On September 1, Year 1, borrowed $21,500 from the local bank. The note had a 5 percent interest rate and matured on March 1, Year 2. 7. Paid $5,800 for warranty repairs during the year. 8. Pald operating expenses of $54,000 for the year. 9. Pald $124,300 of accounts payable. 10. Recorded acciued interest on the note issued in transaction no, 6 . Required o. Record the given transactions in a horizontal statements model. 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