Required information [The following information applies to the questions displayed below.] Leach Inc. experlenced the following events for the first two years of its operations: Year 1: 1. Issued $10,000 of common stock for cash. 2. Provlded $78,000 of services on account. 3. Provlded $36,000 of services and recelved cash. 4. Collected $69,000 cash from accounts recelvable. 5. Paid $38,000 of salarles expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estlmates that 5 percent of the ending accounts recelvable balance will be uncollectlble. Year 2: 1. Wrote off an uncollectible account for $650. 2. Provided $88,000 of services on account. 3. Provlded $32,000 of services and collected cash. 4. Collected $81,000 cash from accounts recelvable. 5. Paid $65,000 of salarles expense for the year. 6. Adjusted the accounts to reflect uncollectlble accounts expense for the year. Leach estlmates that 5 percent of the ending accounts recelvable balance will be uncollectlble. d-1. Organize the transaction data in accounts under an accounting equation. d-2. Prepare an Income statement for Year 2 . d-3. Prepare the statement of changes in stockholders' equity for Year 2. d-4. Prepare the balance sheet for Year 2. d-5. Prepare the statement of cash flows for Year 2 d-6. What is the net realizable value of the accounts recelvable at December 31 , Year 2 ? Complete this question by entering your answers in the tabs below. Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank. Round your answers up to the nearest whole dollar.) Complete this question by entering your answers in the tabs below. Prepare an income statement for Vear 2. (Round your answers to nearest whole dollar amount.) Complete this question by entering your answers in the tabs below. Prepare the statement of changes in stockholders' equity for Year 2. (Round your answers to nearest whole dollar amount.) Complete this question by entering your answers in the tabs below. Prepare the balance sheet for Vear 2. (Round your answers to nearest whole dollar amount.) Complete this question by entering your answers in the tabs below. Prepare the statement of cash flows for Year 2. (Cash outflows should be indicated with a minus sign, Round your answers to nearest whole dollar amount.) Complete this question by entering your answers in the tabs below. What is the net realizable value of the accounts receivable at December 31 , Year 2 ? (Round your answer to nearest whole dollar amount.)
