Please help! Thanks in advance!!!!

a.

Hooper Co. Horizontal Statements Model
			Balance Sheet										Income Statement								Statement of
	Event		Assets					=	Equity				Rev.		Exp.	=		Net Inc.			Cash Flows
		Cash		Accts. Rec.	Allow	Notes Rec.	Int. Rec.	=		Com. Stock	Ret. Earn.
		$		$	$	$	$			$	$		$		$				$		$
	1.	60000								60000											FA
	2.			90000							90000		90000						90000		No effect
	3.	78000		-78000																	OA
	4.	-20000				20000															IA
	5.	-26000									-26000				26000				-26000		OA
	6.	-2000																			FA
	7.1						100				100		100						100		No effect
	8.2			-900							-900				900				-900		No effect
	Total	$ 90000		$11100		$20000	$100	=		$60000	$61200		$90100		$26900		=		$63200		$

¹$ x % = $ ; $ x /12 = $

²$ X % = $

PROBLEM 5-26

b.

Hooper Co. Income Statement For the Year Ended December 31, 2018
			$
	Operating Expenses
		$
	Total Operating Expenses
	Net Operating Income
	Non-Operating Items
	Net Income		$

Hooper Co. Balance Sheet As of the End of the Year 2018
	Assets
			$
		$
	Total Assets		$
	Liabilities		$
	Stockholders Equity
		$
	Total Stockholders Equity
	Total Liabilities and Stockholders Equity		$

PROBLEM 5-26 b. (cont.)

Hooper Co. Statement of Cash Flows For the Year Ended December 31, 2018
	Cash Flows From Operating Activities:
	Inflow from Customers	$
	Outflow for Expenses
	Net Cash Flow from Operating Activities		$
	Cash Flows From Investing Activities:
	Cash Flows From Financing Activities:
		$
	Net Cash Flow from Financing Activities
	Net Change in Cash
	Plus: Beginning Cash Balance
	Ending Cash Balance		$

Problem 5-26 Accounting for notes receivable and uncollectible accounts using the percent of sales allowance method The following transactions apply to Hooper Co. for 2018, its first year of operations: 1. Issued $60,000 of common stock for cash 2. Provided $90,000 of services on account 3. Collected $78,000 cash from accounts receivable. 4. Loaned $20,000 to Mosby Co. on November 30, 2018. The note had a one-year term to maturity and a 6 percent interest rate. 5. Paid $26,000 of salaries expense for the year. 6. Paid a $2,000 dividend to the stockholders. 7. Recorded the accrued interest on December 31, 2018 (see item 4) 8. Estimated that 1 percent of service revenue will be uncollectible. Required a. Show the effects of these transactions in a horizontal statements model like the one shown as follows. b. Prepare the income statement, balance sheet, and statement of cash flows for 2018. Assets Equity Rev.Exp.Net Inc. Cash Flows Event CashAccts. Rec. Notes Rec.+ Int. Rec.Com. Stk. +Ret. Earn -Allow. for Doubtful Accts