Required information The following information applies to the questions displayed below) The following post-closing list of accounts was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31. Year 2: Cash Accounts receivable Allowance for doubtful accounts Inventory Accounts payable Common stock Retained earnings $ 9,000 41,000 2,500 78,000 21,000 50,000 54,500 Transactions for Year 3 1. Acquired an additional $20,000 cash from the issue of common stock, 2. Purchased $85,000 of inventory on account 3. Sold inventory that cost $91,000 for $160,000. Sales were made on account 4. The company wrote off $900 of uncollectible accounts. 5. On September 1, LGS loaned $18,000 to Eden Co. The note had an 8 percent interest rate and a one-year term. 6. Pald $19,000 cash for operating expenses. 7. The company collected $161,000 cash from accounts receivable. 8. A cash payment of $92,000 was paid on accounts payable. 9. The company paid a $5,000 cash dividend to the stockholders. 10. Uncollectible accounts are estimated to be 1 percent of sales on account 11. Recorded the accrued interest at December 31, Year 3 (see item 5). equired Organize the transaction data in accounts under an accounting equation (Enter any decreases to account balances and cash utflows with a minus sign. For changes on the Statement of Cash Flows, indicate whether the item is an operating activity (OA). vesting activity (IA), or financing activity (FA). Not all cells require input.) LITTLE GROCERY SUPPLER (LGS) Accounting Equation for Year 3 Liabilities Interest Accounts Receivable Payable Event Assets Merchandise Inventory NRV Accounts Recolvable Account Tities for Retained Ear Stockholders Equity Common Retained Stock Earnings Cash Notes Receivable Bal 1 2 + 3a 30 4 5 6 --- B . 9 10 . Bai 0 0 0 0