record these events into these statements

Events: a) Purchased $24,000 of equipment for use in the business, paid cash. b) Earned $160,000 in service revenues for 2020, including $40,000 on credit and $120,000 collected in cash. c) Collected accounts receivable, $24,000. d) Customer paid $12,000 in advance for future services. e) Paid accounts payable, $13,000. f) On July 1, paid $20,000 to rent a building for the rest of 2020 and the first half of 2021. g) Purchased $18,000 supplies on account for future use. h) Declared and paid a $17,000 cash dividend. Information for Adjustments: i) Determined after a year-end count that $20,000 of supplies had been used during the year. j) Depreciation for the year on the equipment, $6,000. k) Accrued $1,000 interest on an outstanding loan (promissory note). 1) Building rental expenses for the year, paid in transaction (f), had not yet been recorded. m) Wages of $12,000 earned by employees since the December 24 payroll were not yet paid. n) Vermillion provided $4,000 in service that had been prepaid in transaction (d). o) During December, Vermillion provided $5,000 in service on account. p) Income tax for the year was $16,000. It will be paid in 2021. Vermillion, Inc. 2020 Income Statement For the Year Ended: Sales Revenue Less: Supplies Expense Wages Expense Depreciation Expense Rent Expense Other Expenses NET INCOME 2020 Vermillion, Inc. Statement of Changes in Stockholders' Equity For the Year Ended: Beginning Common Stock Plus: Common stock issued Ending common stock -+ Beginning retained earnings Plus: Net income (loss) Less: Dividends declared Ending retained earnings TOTAL STOCKHOLDER'S EQUITY Vermillion, Inc. 2020 Balance Sheet As of the Last Day of: Assets Cash Accounts Receivable Prepaid Services Supplies (on hand) Equipment, net TOTAL ASSETS Liabilities Accounts Payable 2 Unearned Revenue Notes Payable 4 Total Liabilities 5 Equity 6 Common Stock -7 Retained Earnings 8 Total Equity SO TOTAL LIABILITIES AND EQUITY 2020 Vermillion, Inc. Statements of Cash Flows For the Year Ended: Cash flows from operating activities Cash collected from customers Cash paid to suppliers of operating services & goods Net cash flow from operating activities Cash flow from investing activities Cash collected from selling long-term assets Cash paid to purchase long-term assets Net cash flow from investing activities Cash flows from financing activities Cash inflows from borrowing Cash payments to repay debt Cash inflows from issuing stock Cash payments of dividends Net cash flows from financing activities 3 Net change in cash - Beginning cash balance 6 Ending Cash Balance 7 8 Assets Ubblities Eve Cash How Categ Prepaid Cash Accounts Receivable Supplies Ion hand) Accum Deprec Equipment Accounts Payable Uncamed Revenue Equity Earning Current Period Divider Revenues Notes Payable Common Stock Retained Earning (6,000) 0 0 5,000 15,000+ 50,000 (0) 8,000 (0) 0 36,000 24,000 + + 160,000 + 12,000 + (13,000) + Beginning 31,000 5,000 12,000 Oper 24,000) b Iny 120,000 40,000 Oper 24,000 24,000) d Opel 12,000 Oper (13,000) Fin 120,000) Oper 18,000 Inv (17,000) Unadjusted 113,000 21,000 30,000 . 120,000) 7 + d 20.000 e 18,000 + (17,000) (17,000) 160,000 20,000 60,000 (6,000) 10,000 12,000 15,000+ 50,000 8,000 (6.000) + 1,000 + - (20,000) supplies opek 16,000) depreciation (1,000) interest (10,000) repense (12,000) wapes expenso 1 (10,000) 9 om 12,000 + 14,000) IT! 4,000 5,000 2. P 5,000 . n (16,000) income tax D 16,000 26,000 10,000 10.000 60,000 (12,000) 39,000 8.000 15,000 50,000 5 Adjusted 113,000 26 Closing 27 Period End 113,000 8,000 87,000 95,000 (17,000) 169,000 (65,000) 17,000 (169,000) 65,000 0 0 0 26,000 10,000 10,000 60,000 (12,000) 39,000 8,000 50,000 15,000 207,000 Check 207,000 29 30 31