Required Record the events in a horizontal statement model. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, or NC for net change in cash. If the element is not affected by the event, leave the cell blank. (Not every cell will require entry. Enter any decreases to account balances and cash outflows with a minus sign.) Assets MILO CLOTHING Effect of Events on the Financial Statements Stockholders' Equity Common Retained Revenue - Expenses = Stock Earnings Event Net Income Statement of Cash Flows Cash + Inventory + + + + + + + + Total