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Required information The following information applies to the questions displayed below.) The following events apply to Gulf Seafood for the Year 1 fiscal year 1. The company started when it acquired $19,000 cash by issuing common stock, 2. Purchased a new cooktop that cost $12,300 cash 3. Eamed $20,100 in cash revenue. 4. Paid $12,600 cash for salaries expense, 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, Year 1, the cooktop has an expected useful life of four years and an estimated salvage value of $2,100. Use straight-line depreciation. The adjustment was made as of December 31, Year 1. Required a. Record the above transactions in a horizontal statements model. (In the Statement of Cash Flows column, use the initials (OA), on Investing activity (IA), a financing activity (FA) and net change in cash (NC). Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require input.) Answer is not complete. Event Income Statement Banent of Cash GULF SEAFOOD Horizontal statements Model Balance Sheet Assets Stockholders Equity Cash Equipment Common Retained Revenue (OV Stock Earning 19.000 1900- (12,300): 12.300 20,100 20.100 20.100 (12.0001 126001 Expense Net income 1 2 3 RA O 4 00 19.000 123003 20.00 12 000 1 saa 12000 CA 5 Bal + 14,200 12,300 1,900 7.500 20.00 12600 0 000