Record the events in a hortrontal statement model. In the Cash Flow calumn, use OA to designate operating activity, LA for investinent activity, FA for finan Complete this question by entering your answers in the tabs below. What is the batance of accounts recoivable, accounts payable, amounts of gross margin, net income and net cash flow from operating activities at the end of Year 17 (Indicate cash outflows with minus sign.) Exercise 3-4A (Algo) Effect of inventory transoctions on the income statement and statement of cash flows: Perpetual system LO 3-1 During Year 1, Hardy Merchandising Compary purchased \$17,000 of inventory on account. Hardy sold inventory on account that cost $12,800 for $19,00 Cash payments on accounts payable were $10,600. There was $17,000 cash collected from accounts receivable Hardy also paid $3,700 cash for operating expenses. Assume that Hardy started the accounting period with $23,500 in both cash and common stock Required a. Pecord the events in a horizontal statement model in the Cosh Flow columin, use OA to designate operating activity, iA for investment activity. FA for financing activity, or NC for net change in cash. If the element is not affected thy the event. leave the cell blank. b. What is the balance of accounts recewable at the end of Year 1 ? c. What is the balance of accounts payabie at the end of Year 1 ? d. What ore the amounts of gross margin and net income for Year 1 ? e. Determine the ampunt of net cash fiow from operating activities Record the events in a hortrontal statement model. In the Cash Flow calumn, use OA to designate operating activity, LA for investinent activity, FA for finan Complete this question by entering your answers in the tabs below. What is the batance of accounts recoivable, accounts payable, amounts of gross margin, net income and net cash flow from operating activities at the end of Year 17 (Indicate cash outflows with minus sign.) Exercise 3-4A (Algo) Effect of inventory transoctions on the income statement and statement of cash flows: Perpetual system LO 3-1 During Year 1, Hardy Merchandising Compary purchased \$17,000 of inventory on account. Hardy sold inventory on account that cost $12,800 for $19,00 Cash payments on accounts payable were $10,600. There was $17,000 cash collected from accounts receivable Hardy also paid $3,700 cash for operating expenses. Assume that Hardy started the accounting period with $23,500 in both cash and common stock Required a. Pecord the events in a horizontal statement model in the Cosh Flow columin, use OA to designate operating activity, iA for investment activity. FA for financing activity, or NC for net change in cash. If the element is not affected thy the event. leave the cell blank. b. What is the balance of accounts recewable at the end of Year 1 ? c. What is the balance of accounts payabie at the end of Year 1 ? d. What ore the amounts of gross margin and net income for Year 1 ? e. Determine the ampunt of net cash fiow from operating activities