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 $52,000 cash from the issue of common stock. Feb. 1 Paid rent for office space for two years, $15,100 cash. Apr. 10 Purchased $890 of supplies on account. July 1 Received $21,000 cash in advance for services to be provided over the next year. 20 Paid $668 of the accounts payable from April 10. Aug. 15 Billed a customer $9,300 for services provided during August. Sept. 15 Completed a job and received $2,800 cash for services rendered. Oct. 1 Paid employee salaries of $31,000 cash. 15 Received $7,900 cash from accounts receivable. Nov. 16 Billed customers $37,000 for services rendered on account. Dec. 1 Paid a dividend of $1,200 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; $100 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. (Round your final answers to the nearest whole dollar amount. Statement of Cash Flows only, items to be deducted must be indicated with a negative amount.) SMITH TRAINING COMPANY Financial Statements For the Year Ended December 31, Year 1 Income Statement Expenses Total expenses Statement of Changes in Stockholders' Equity Total Stockholders' Equity SMITH TRAINING COMPANY Balance Sheet As of December 31, Year 1 Assets Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity SMITH TRAINING COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: Net cash flows from operating activities Cash flows from investing activities Cash flows from financing activities: Net cash flows from financing activities Endin nach halanna