Required Information [The following information applies to the questions displayed below.] The following transactlons pertain to Smlth Training Company for Year 1: . Prepare the income statement, statement of changes In stockholders' equity, balance sheet, and statement of cash flows for Year 1. lote: Statement of Cash Flows only. enter any decreases to account balances and cash outflows with a minus sign. d. Prepare the income statement, statement of changes In stockholders' equlty, balance sheet, and statement of cash flows for Year 1. Note: Statement of Cash Flows only, enter any decreases to account balances and cash outflows with a minus sign. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ SMITH TRAINING COMPANY } \\ \hline \multicolumn{2}{|c|}{ Balance Sheet } \\ \hline As of December 31, Year 1 & \\ \hline Assets & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total liabilites & & \\ \hline Stockholders' Equity & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} SMITH TRAINING COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 \begin{tabular}{|l|l|l|} \hline Cash flows from operating activities: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Net cash flows from operating activities & & \\ \hline Cash flows from investing activities & & \\ \hline Cash flows from financing activities: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Net cash flows from financing activities & & \\ \hline & & \\ \hline & & \\ \hline Ending cash balance & & \\ \hline \end{tabular} Required Information [The following information applies to the questions displayed below.] The following transactlons pertain to Smlth Training Company for Year 1: . Prepare the income statement, statement of changes In stockholders' equity, balance sheet, and statement of cash flows for Year 1. lote: Statement of Cash Flows only. enter any decreases to account balances and cash outflows with a minus sign. d. Prepare the income statement, statement of changes In stockholders' equlty, balance sheet, and statement of cash flows for Year 1. Note: Statement of Cash Flows only, enter any decreases to account balances and cash outflows with a minus sign. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ SMITH TRAINING COMPANY } \\ \hline \multicolumn{2}{|c|}{ Balance Sheet } \\ \hline As of December 31, Year 1 & \\ \hline Assets & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total liabilites & & \\ \hline Stockholders' Equity & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} SMITH TRAINING COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 \begin{tabular}{|l|l|l|} \hline Cash flows from operating activities: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Net cash flows from operating activities & & \\ \hline Cash flows from investing activities & & \\ \hline Cash flows from financing activities: & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Net cash flows from financing activities & & \\ \hline & & \\ \hline & & \\ \hline Ending cash balance & & \\ \hline \end{tabular}