PLEASE HELP!!

The following transactions pertain to Accounting Solutions Inc. Assume the transactions for the purchase of the computer and any capital improvements occur on January 1 each year.

Year 1

1. Acquired $63,000 cash from the issue of common stock.
2. Purchased a computer system for $23,500. It has an estimated useful life of five years and a $3,490 salvage value.
3. Paid $1,600 sales tax on the computer system.
4. Collected $33,820 in fees from clients.
5. Paid $1,270 in fees for routine maintenance to service the computers.
6. Recorded double-declining-balance depreciation on the computer system for Year 1.

Year 2

1. Paid $980 for repairs to the computer system.
2. Bought off-site backup services to maintain the computer system, $1,010.
3. Collected $36,820 in fees from clients.
4. Paid $810 in fees to service the computers.
5. Recorded double-declining-balance depreciation for Year 2.

Year 3

1. Paid $3,400 to upgrade the computer system, which extended the total life of the system to six years. The salvage value did not change.
2. Paid $960 in fees to service the computers.
3. Collected $32,400 in fees from clients.
4. Recorded double-declining-balance depreciation for Year 3.

Required

1. a. Record the above transactions in a horizontal statements model.

2. b-1. Prepare income statements for Year 1, Year 2, and Year 3.

3. b-2. Prepare statements of changes in stockholders' equity for Year 1, Year 2, and Year 3.

4. b-3. Prepare balance sheets for Year 1, Year 2, and Year 3.

5. b-4. Prepare statements of cash flows for Year 1, Year 2, and Year 3.

The following transactions pertain to Accounting Solutions Inc. Assume the transactions for the purchase of the computer and any capital Improvements occur on January 1 each year, Year 1 1. Acquired $63,000 cash from the issue of common stock 2. Purchased a computer system for $23,500. It has an estimated useful life of five years and a $3,490 salvage value 3. Paid $1,600 sales tax on the computer system. 4. Collected $33,820 in fees from clients. 5. Paid $1.270 in fees for routine maintenance to service the computers. 6. Recorded double-declining-balance depreciation on the computer system for Year 1. Year 2 1. Paid $980 for repairs to the computer system. 2. Bought off-site backup services to maintain the computer system, $1.010. 3. Collected $36,820 in foes from clients, 4. Paid $810 in fees to service the computers. 5. Recorded double-declining balance depreciation for Year 2. Year 3 1. Paid $3,400 to upgrade the computer system, which extended the total wife of the system to six years. The salvage value did not 2. Paid $960 in foes to service the computers. 3. Collected $32,400 in foes from clients. 4. Recorded double-declining-balance depreciation for Year 3. Required a. Record the above transactions in a horizontal statements model b-1. Prepare income statements for Year 1 Year 2, and Year 3. b-2. Prepare statements of changes in stockholders equity for Year 1. Year 2. and Year 3. b-3. Prepare balance sheets for Year 1. Year 2. and Year 3. b-4. Prepare statements of cash flows for Year 1 Year 2 and Year 3. Complete this question by entering your answers in the tabs below. Req A Year : Reg A Year 2 Reg A Year 3 Req B1 Inc Reg B2 Strmt Semt of Changes Reg 83 Bal Sheet Reg 34 Cash Flows Record the above transactions in a horizontal statements model for Year 2. (In the Cash Flow column, indicate whether the items an operating activity (OA), an Investing activity (IA), a financing activity (FA), or net change in cash (NC). If an element is not affected by the event, leave the cell bank. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells will require entry.) Show less Event Year 2 ACCOUNTING SOLUTIONS INC Horizontal Statements Model - Year 2 Balance Sheet Income Statement Assets Stockholders' Equity BV Common Retained Ravenue Expense - Net Income Cash Equipment Stock Earnings 70.450 ol 63,000 0 0 o 0 Statement of Cash Flows Bal