Required information [The following information applies to the questions displayed below.] The following transactions apply to Jova Company for Year 1, the first year of operation: 1. Issued $14,500 of common stock for cash. 2. Recognized $69,500 of service revenue earned on account. 3. Collected $61,600 from accounts receivable. 4. Paid operating expenses of $35,800. 5. Adjusted accounts to recognize uncollectible accounts expense. Jova uses the allowance method of accounting for uncollectible accounts and estimates that uncollectible accounts expense will be 2 percent of sales on account. The following transactions apply to Jova for Year 2 : 1. Recognized $77,000 of service revenue on account. 2. Collected $69,600 from accounts receivable. 3. Determined that $990 of the accounts receivable were uncollectible and wrote them off. 4. Collected $100 of an account that had previously been written off. 5. Paid $49,400 cash for operating expenses. 6. Adjusted the accounts to recognize uncollectible accounts expense for Year 2. Jova estimates uncollectible accounts expense will be 1 percent of sales on account. Required: Complete the following requirements for Year 1 and Year 2. Complete all requirements for Year 1 prior to beginning the requirements for Year 2. 1-1. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year 1 Complete this question by entering your answers in the tabs below. Prepare the statement of changes in stockholders' equity for Year 1