Required information The following information applies to the questions displayed below] The following events apply to Gulf Seafood for the Year 1 fiscal year: 1. The company started when it acquired $20,000 cash by issuing common stock 2. Purchased a new cooktop that cost $14,900 cash 3. Earned $20,400 in cash revenue. 4. Paid $12,500 cash for salaries expense 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, Year 1 , the cooktop has an expected useful life of four years and an estimated salvage value of $2,200. Use straight-line depreciation. The adjustment was Required: a. Record the above transactions in a horizontal statements model. Note: In the Statement of Cash Flows column, use the initials (OA), an investing activity (IA), a financing octivity (FA) and net change in cash (NC). Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require input