Required Explain how each of the following events or series of events and the related adjusting entry will affect the amount of net income and the amount of cash flow from operating activities reported on the year-end financial statements Identify the direction of change increase or decrease) and the amount of the change. If there is no change, leave the cell blank. Organize your answers according to the following table. The first event is recorded as an example. - an event does not have a related adjusting entry, record only the effects of the event. (Do not round intermediate calculations. Not all cells require entry.) a. Paid $9.000 cash on October 1 to purchase a one-year insurance policy. b. Purchased $2,000 of supplies on account. Paid $500 cash on accounts payable. The ending balance in the Supplies account, after adjustment, was $300. c. Provided services for $10,000 cash. d. Collected $2,400 in advance for services to be performed in the future. The contract called for services to sta on May 1 and to continue for one year. e. Accrued salaries amounting to $5,600. f. Sold land that cost $3,000 for $3,000 cash. g. Acquired $15,000 cash from the issue of common stock h. Earned $12,000 of revenue on account Collected $8,000 cash from accounts receivable. i. Paid cash operating expenses of $4,500. Event/ Adjustment Cash Flows from Net Income Operating Activities Direction of Amount of Direction of Amount of Change Change Change Change Decrease $ 9,000 Decrease 2,250 a Adj. b. Adj. c. Adj. d. Adj. e. Adj. f. Adj. g. Adj. h. Adj. i. Adj