Received $$40,000$ cash from the issue of common stock.

Performed services on account for $$82,000.$

Paid a $$6,000$ cash dividend to the stockholders.

Collected $$76,000$ of the accounts receivable.

Paid $$53,000$ cash for other operating expenses.

Performed services for $$19,000$ cash.

Recognized $$3,500$ of accrued utilities expense at the end of the year.

Required

a$.$ & c$.$ Identlfy the events that result in revenue or expense recognition and those which affect the statement of cash flows. In the Statement of Cash Flows column, use OA to designate operating activity, FA for financing activity, or IA for investing activity. If the element is not affected by the event, leave the cell blank.

b$.$ Based on your response to Requirement $a,$ determine the amount of net income reported on the Year $1$ income statement.

d$.$ Based on your response to Requirement $c,$ determine the amount of cash flow from operating activities reported on the Year $1$ statement of cash flows.

e$.$ What is the before$-$ and after$-$closing balance in the service revenue account?

$f.$ What is the balance of the retained earnings account that appears on the Year $1$ balance sheet?