Question
Required a. Record the above events in a horizontal statements model like the following one. In the Cash Flow column, indicate whether the item is
Required a. Record the above events in a horizontal statements model like the following one. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), a financing activity (FA) and net change in cash (NC). The letters NA indicate that an element is not affected by the event. (Enter any decreases to account balances and cash outflows with a minus sign. Do not round intermediate calculations and round your final answers to nearest whole number.) b-1. Prepare an income statement for 2014. (Round intermediate calculations and final answers to nearest whole dollar amount.)
b-2. Prepare a statement of changes in stockholders equity for 2014. (Round intermediate calculations and final answers to nearest whole dollar amount.)
b-3. Prepare a balance sheet for 2014. (Be sure to list the assets in the order of their liquidity. Round intermediate calculations and final answers to nearest whole dollar amount.)
b-4. Prepare a statement of cash flows for 2014. (Amounts to be deducted should be indicated with a minus sign.)
upe Supply Company had the following transactions in 2014 Acquired $64,500 cash from the issue of common stock. 2. Purchased $178,500 of merchandise for cash in 2014 3. Sold merchandise that cost $111,315 for $202,390 during the year under the following terms $ 47,080 Cash sales 144,540 Credit card sales (The credit card company charges a 2.00 percent service fee.) 10,770 Sales on account 4. Collected all the amount receivable from the credit card company. 5. Collected $9,908 of accounts receivable 6. Paid selling and administrative expenses of $41,402 7. Determined that 6.00 percent of the ending accounts receivable balance would be uncollectible. t of the ending accounts receivable balance would be
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