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 $ 34, 100 20,400 12.900 29,000 12,600 The following events apply to Oak Consulting for Year 2: 1. Provided $72,400 of services on account. 2. Incurred $3,200 of operating expenses on account. 3. Collected $46,100 of accounts receivable. 4. Pald $30,200 cash for salaries expense. 5. Pald $14.490 cash as a partial payment on accounts payable. 6. Paid a $9,600 cash dividend to the stockholders. c. Show the effect of above adjustment 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 in the "Statement of Cash Flows" column may require an input - leave cells blank if there is no corresponding input needed.) OAK CONSULTING Effect of Transactions on the Financial Statements for Year 2 Balance Sheet Income Statement = Liabilities + Stockholders' Equity Revenue - Expenses = Net Income Accounts , Common Retained Pavable Stock Earnings Assets Accounts + Receivable Statement of Cash Flows No Cash Bal. + + + + + + + + + + Bal