Required information [The following information applies to the questions displayed below.] The following events apply to Gulf Seafood for the Year 1 fiscal year: 1. The company started when it acquired $39,000 cash by issuing common stock. 2. Purchased a new cooktop that cost $14,300 cash. 3. Earned $17,900 in cash revenue. 4. Paid $13,900 cash for salaries expense. 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, Year 1, the cooktop has an expected useful life of five years and an estimated salvage value of $3,100. Use straight-line depreciation. The adjusting entry was made as of December 31 , Year 1. b. Prepare a balance sheet and a statement of cash flows for the Year 1 accounting pe.kod. Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for the Year 1 accounting period. (Enter cash outflows with a minus sign.) Prepare a statemeht of cash flows for the Year 1 accounting period. (Enter cash outflows with a minus sign.) GULF SEAFOOD Statement of Cash Flows For the Year Ended December 31, Year 1 \begin{tabular}{|l|r|r|} \hline Cash flows from operating activities: & & \\ \hline & & \\ \hline & & \\ \hline Net cash flow from operating activities & & \\ \hline Cash flows from investing activities: & & \\ \hline & & \\ \hline & & \\ \hline Net cash flow from investing activities & & \\ \hline Cash flows from financing activities: & & \\ \hline & & \\ \hline & & \\ \hline Net cash flow from financing activities & & \\ \hline Net change in cash & & \\ \hline & & \\ \hline Ending cash balance & & \\ \hline \end{tabular}