Record the events under an accounting equation. Note: Do not round intermediate calculations. Enter any decreases to account balances with a minus sign. Leave cells blank if no input is needed. Prepare an income statement for the Year 1 accounting period. Note: Do not round intermediate calculations. Based on this information alone: a. Record the events under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. c. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 2 ? Complete this question by entering your answers in the tabs below. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 2 ? Note: Do not round intermediate calculations. Life, Incorporated, experienced the following events in Year 1 , its first year of operation: 1. Performed counseling services for $36,000 cash. 2. On February 1, Year 1 , paid $18,000 cash to rent office space for the coming year. 3. Adjusted the accounts to reflect the amount of rent used during the year. Required: Based on this information alone: a. Record the events under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. c. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 2 ? Complete this question by entering your answers in the tabs below. Record the events under an accounting equation. Note: Do not round intermedlate calculations. Enter any decreases to account balances with a minus sign, Leave cells bi no input is needed. Prepare a balance sheet for the Year 1 atcounting period. Note: Do not round intermediate calculations. Prepare the statement of cash flows for the Year 1 accounting period. Note: Do not round intermediate calculations. Enter cash outflows with a minus sign