Required information Exercise 13-10A (Algo) Recording supplies and identifying their effect on financial statements LO 13-1, 13- 3, 13-4 [The following information applies to the questions displayed below.] Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $20,300 of services on account, and (2) he purchased $5,400 of supplies on account. There were $950 of supplies on hand as of December 31, Year 1. Exercise 13-10A (Algo) Part c c. Show the above transactions in a horizontal statements model. (Enter any decreases to account balances and cash outflows with a minus sign. In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity and NC for net change in cash. Not all cells require input.) CHASE ARCHITECTURAL SERVICES Effect of Transactions on the Financial Statements for Year 1 Balance Sheet Income Statement Assets = Liabilities + Stockholders' Equity No. Accounts Receivable Supplies Accounts Payable Common Stock Retained Earnings Revenue Statement of Cash Flows Expense = Net Income a1. + + a2. + + b. + + Bal. 0+ 0 = 0+ 0+ + 0 0 0 = 0 0