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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:

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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: 2018: 1. Issued $10,000 of common stock for cash. 2. Provided $60,000 of services on account. 3. Provided $29,000 of services and received cash. 4. Collected $31,000 cash from accounts receivable. 5. Paid $14,000 of salaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible. 2019: 1. Wrote off an uncollectible account for $730. 2. Provided $80,000 of services on account. 3. Provided $25,000 of services and collected cash. 4. Collected $62,000 cash from accounts receivable. 5. Paid $30,000 of salaries expense for the year. 6. Adjusted the accounts to reflect uncollectible accounts expense for the year. Leach estimates that 6 percent of the ending accounts receivable balance will be uncollectible. b. Prepare an income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for 2018. Complete this question by entering your answers in the tabs below. Req B Inc Req B Req B Bal Req B Stmt Stmt SE Sheet Stmt Prepare an income statement for 2018. LEACH INC. Income Statement For the Year Ended December 31, 2018 Operating expenses Total operating expenses Reg B Inc Stmt Req B Stmt SE >

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