Record the previous transactions in a horizontal statements model. Also, in the Statement of Cash Flows column, elassify the cash flows a activities (IA), or financing activities (FA). Note: Enter any decreases to account balances and cash outflows with a minus sign. Leave celis blank if no input is needed. The following events apply to Guir Seafood for the Year 1 fiscal year: 1. The company started when it acquired $20,000 cash by issuing common stock. 2. Purchased a new cooktop that cost $15,000 cash. 3. Earned $21,300 in cash revenue. 4. Paid $10,400 cash for salaries expense. 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, Year 1, the cooktop has an expected useful life of four years and an estimated salvage value of $2,400. Use stralght-line depreciation. The adjusting entry was made as of December 31 , Year 1 . Required a. Record the above transactions in a horizontal statements model. b. What amount of depreciation expense would Gulf Seafood report on the : var 1 income statement? c. What amount of accumulated depreciation would Guir Seafood report on the December 31, Year 2, balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 1 ? Complete this question by entering your answers in the tabs below. b. What amount of depreciation expense would Gulf Seafood report on the Year 1 income statement? c. What amount of accumulated depreciation would Guit Seafood report on the December 31, Year 2, batance sheet? d. Would the cash flow from operating activities be affected by depreclation in Year 1