Record the events under an accounting equation. Note: Not all cells require input. Enter any decreases to account balances with a minus sign. Prepare a balance sheet for the Year 1 accounting period. YARD PROFESSIONALS INCORPORATED Balance Sheet As of December 31, Year 1 \begin{tabular}{|l|l|l|} \hline Assets & & \\ \hline & & \\ \hline Total assets & & $ \\ \hline Liabilities & & \\ \hline & & \\ \hline Total liabilities & & $ \\ \hline Stockholders' Equity & & \\ \hline & & \\ \hline & & \\ \hline Total stockholders' equity & & \\ \hline Total liabilities and stockholders' equity & & $ \\ \hline \end{tabular} Prepare the statement of cash flows for the Year 1 accounting period. Note: Enter cash outflows with a minus sign. c. What is the balance in the Supplies account as of January 1, Year 2 ? d. What is the balance in the Supplies Expense account as of January 1 , Year 2 Yard Professionals Incorporated experienced the following events in Year 1, its first year of operation: 1. Performed services for $24,500 cash. 2. Purchased $4,600 of supplies on account. 3. A physical count on December 31 , Year 1 , found that there was $1,030 of supplies on hand. 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. What is the balance in the Supplies account as of January 1 , Year 2 ? d. What is the balance in the Supplies Expense account as of January 1, Year 2