Required Information [The following information applles 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 $12,000 cash. 3. Earned $18,900 in cash revenue. 4. Pald $13,700 cash for salarles expense. 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, Year 1, the cooktop has an expected useful IIfe of five years and an estimated salvage value of $3,300. Use straight-IIne depreciation. The adjusting entry was made as of December 31, Year 1. . Prepare a balance sheet for the Year 1 accounting perlod. (Amounts to be deducted should be Indicated by a minus sign.)