Required information Exercise 3-22A Recording events in the general journal, posting to T-accounts, and preparing closing entries LO 3-1, 3-2, 3-3, 3-4 [The following information applies to the questions displayed below.] At the beginning of Year 2, Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 30,700 19,500 12,600 24, 100 13,500 The following events apply to Oak Consulting for Year 2: 1. Provided $70,900 of services on account. 2. Incurred $3,400 of operating expenses on account. 3. Collected $50,700 of accounts receivable. 4. Paid $34,800 cash for salaries expense. 5. Paid $14,400 cash as a partial payment on accounts payable. 6. Paid a $9,400 cash dividend to the stockholders. Exercise 3-22A Part b b & d. Post the beginning balances and the transactions from Parts a&d to the appropriate accounts. Cash Beg. Bal Accounts Receivable Beg. Bal 3. End. Bal End. Bal Accounts Payable Common Stock Beg. Bal Beg. Bal 5. End. Bal End. Bal Retained Earnings Dividends Beg. Bal Beg. Bal End. Bal Bal Service Revenue Operating Expenses Beg. Bal Beg. Bal End. Bal End. Bal Salaries Expense Beg. Bal 4. End. Bal Exercise 3-22A Part c c. Show the beginning balances and the events in a horizontal statements model such as the following one: (In the Cash Flow column, use the initials "OA" for operating activities, "FA" for financing activities and "NC" for net change in cash. Select "NA" wherever required. Enter any decreases to account balance and cash outflows with a minus sign.) OAK CONSULTING = = Statement of Cash Effect of Transactions on the Financial Statements for Year 2 Balance Sheet Income Statement Liabilities + + Stockholders' Equity Revenue Expenses = Net Income Accounts Common Retained + Payable Stock Earnings + + Assets Accounts + Receivable Flow No Cash + Bal. + + - 1 + + + = 2 + + + 3 + = + + = = 4 + = + + = 5 + = + + = 6 + + + + + Bal. 0 + 0 = 0 + 0 + 0 0 0] = 0 0 Exercise 3-22A Part e e e. What is the amount of change in retained earnings for the year? Change in retained earnings