Required information

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The following transactions apply to Hooper Co. for 2018, its first year of operations:

1. Issued $160,000 of common stock for cash.
2. Provided $92,000 of services on account.
3. Collected $78,000 cash from accounts receivable.
4. Loaned $13,000 to Mosby Co. on November 30, 2018. The note had a one-year term to maturity and a 8 percent interest rate.
5. Paid $34,000 of salaries expense for the year.
6. Paid a $2,500 dividend to the stockholders.
7. Recorded the accrued interest on December 31, 2018 (see item 4).
8. Estimated that 1 percent of service revenue will be uncollectible.

Required a. Show the effects of these transactions in a horizontal statements model like the one shown below. (Enter any decreases to account balances with a minus sign. If there is no effect on the Statement of Cash Flow, leave the cell blank.) HOOPER CO. Horizontal Statements Model = Equity Income Statement Event No. Assets Allowance for Doubtful Accounts Accounts Receivable Cash Notes Receivable Interest Receivable Common Stock Statement of Cash Flow Retained Earnings Revenue Expense = Net Income 1. + + + + + + + + + + + + + + + + + + + + + + + + + + + + + Total + + 00-000 Prepare the income statement for 2018. (Round intermediate calculations and final answers to nearest whole dollar amount.) HOOPER CO. Income Statement For the Year Ended December 31, 2018 Operating expenses Total operating expenses Non-Operating Items Prepare the balance sheet for 2018. (Round intermediate calculations and final answers to nearest whole dollar amount.) HOOPER CO. Balance Sheet As of the End of the Year 2018 Assets Total assets Liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity Prepare the statement of cash flows for 2018. (Amounts to be deducted should be indicated with a minus sign.) HOOPER CO. Statement of Cash Flows For the Year Ended 2018 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Net cash flows from investing activities Cash flows from financing activities Net cash flows from financing activities Net change in cash Ending cash balance