! Required information [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 $ 42,000 25,000 8,400 24,000 34,600 The following events apply to Oak Consulting for Year 2: 1. Provided $185,000 of services on account. 2. Incurred $45,800 of operating expenses on account. 3. Collected $140,000 of accounts receivable. 4. Paid $120,000 cash for salaries expense. 5. Paid $31,400 cash as a partial payment on accounts payable. 6. Paid a $10,000 cash dividend to the stockholders.

Required information [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: The following events apply to Oak Consulting for Year 2: 1. Provided $185,000 of services on account. 2. Incurred $45,800 of operating expenses on account. 3. Collected $140,000 of accounts recelvable. 4. Paid $120,000 cash for salaries expense. 5. Paid $31,400 cash as a partial payment on accounts payable. 6. Paid a $10,000 cash dividend to the stockholders. c. Show the beginnling balonces and the transactions in a horizontal statements modet. Note: Enter any decreases to occoumt bolonces and cosh outflows with a minus sign. In the Statement of Cash Flows column, use the initials OA to designate operating activity. IA for investing octivity, FA for financing activity, and NC for net change in cash. Not oll cells require input