Required information The following information applies to the questions displayed below] Leach Inc experienced the following events for the first two years of its operations: Yeart 1. Issued $10,000 of common stock for cash. 2. Provided $78,000 of services on account 3. Provided $36,000 of services and received cash 4. Collected $69,000 cash from accounts receivable 5. Paid $38,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible, 7. Closed the revenue account. 8. Closed the expense account Year 2 1. Wrote off an uncollectible account for $650. 2. Provided $88,000 of services on account 3. Provided $32,000 of services and collected cash 4. Collected $81,000 cash from accounts receivable. 5. Pald $65,000 of salaries expense for the year 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 5 percent of the ending accounts receivable balance will be uncollectible. b. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year 1 (Statement of Cash Flows and Balance Sheet only: Items to be deducted must be indicated with a minus sign.)