Rosie Dry Cleaning was started on January 1 Year 1. It experienced the following events during its first two years of operation: Events Affecting Year 1 1. Provided $34,680 of cleaning services on account. 2. Collected $27.744 cash from accounts receivable. 3. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account Events Affecting Year 2 1. Wrote off a $260 account receivable that was determined to be uncollectible. 2. Provided $40,472 of cleaning services on account. 3. Collected $35,818 cash from accounts receivable. 4. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account rces Required a. Organize the transaction data in accounts under an accounting equation for each year. b. Determine the following amounts: 1. (1) Net Income for Year 1. 2. (2) Net cash flow from operating activities for Year 1, 3. (3) Balance of accounts receivable at the end of Year 1. 4. (4) Net realizable value of accounts receivable at the end of Year 1. c. Determine the following amounts: 1 (1) Net Income for Year 2. 2.(2) Net cash flow from operating activities for Year 2 3. (3) Bolonce of accounts receivable at the end of Year 2. 4. (4) Net realizable value of accounts receivable at the end of Year 2. Req A1 Req A2 Req B Reqc Organize the transaction data in accounts under an accounting equation for year 1. (Enter any decrease with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank require entry. Round your answers to the nearest whole dollar.) ROSIE DRY CLEANING Accounting Equation for the Year 1 Balance Sheet Assets Equity Accounts Titles for Retained NRV Accounts Retained Earnings Receivable Earnings Event Cash 1. bs ++ 2. 3. 3 + Bal. 0 01 Reg A1 Req A2 > an accounting equation for year 2. (Enter any decreas with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank require entry. Round your answers to the nearest whole dollar.) ROSIE DRY CLEANING Accounting Equation for the Year 2 Balance Sheet Assets Equity Accounts Titles for Retained NRV Accounts Retained Earnings Receivable Earnings + Event Cash Bal. + 1. HII 2. 3. + + + + + 4. 111111 11 11 11 Bal. 0 = Req A1 Req A2 Req B Reg C Determine the following amounts for the Year 1 accounting period. (Round your answers to n Net income Net cash flow from operating activities Balance of accounts receivable Net realizable value of accounts receivable