Required information [The following information applies to the questions displayed belowj The following selected transactions apply to Topeca Supply for November and December Year 1. November was the first month of operations. Sales tax is collected at the time of sale but is not paid to the state sales tax agency until the following month 1. Cash sales for November Year 1 were $65,500 plus sales tax of 7 percent. 2. Topeca Supply paid the November sales tax to the state agency on December 10, Year 1. 3. Cash sales for December Year 1 were $82,500 plus sales tax of 7 percent Required a. Show the effect of the above transactions on a statements model like the one shown as follows. In the Statement of Cash Flows column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). The letters NA indicate that an element is not affected by the event. (Enter any decreases to account balances and cash outflows with a minus sign.) TOPECA SUPPLY Horizontal Statements Model Assets LiabilitiesStockholder's Equity CashSales Tax Income Statement Statement of Cash Flows Event Common Stock Retained Earnings RevenueExpenseNet Income Payable b. What was the total amount of sales tax paid in Year 1? Sales tax paid c. What was the total amount of sales tax collected in Year 1? Sales tax collected d. What is the amount of the sales tax liability as of December 31, Year 1? Sales tax liability