Required information [The following information applies to the questions displayed below.) The following transactions pertain to Smith Training Company for Year 1: Jan. 30 Established the business when it acquired $47,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $27,000 cash. Apr. 10 Purchased $760 of supplies on account. July 1 Received $27,000 cash in advance for services to be provided over the next year. 20 Paid $570 of the accounts payable from April 10. Aug. 15 Billed a customer $9,700 for services provided during August. Sept.15 Completed a job and received $3,400 cash for services rendered. Oct. 1 Paid employee salaries of $37,000 cash. 15 Received $9,400 cash from accounts receivable. Nov. 16 Billed customers $33,500 for services rendered on account. Dec. 1 Paid a dividend of $900 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,000 of accrued salaries as of December 31. 31 Recorded the rent expense for the year. (See February 1.) 31 Physically counted supplies: $70 was on hand at the end of the period. d. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year 1. (Statement of Cash Flows only, enter any decreases to account balances and cash outflows with a minus sign.) Income Statement Expenses SMITH TRAINING COMPANY Financial Statements For the Year Ended December 31, Year 1 Total expenses Statement of Changes in Stockholders' Equity Total Stockholders' Equity 0 >