Santiago Pies, Inc., owned and operated by Denali experienced the following accounting events during its first year of pie making. Except for the depreciation adjusting entries, all transactions are cash transactions. 1. Acquired $75,000 cash from the issue of common stock. 2. Paid $4,500 for the materials that were used to make her pies. All pies started were completed during the period. 3. Paid salaries of $5,000 to selling and administrative employees. 4. Paid wages of $8,600 to production workers. 5. On January 1 , paid $10,000 to buy furniture used in selling and administrative offices for her office workers. 6. Recorded annual depreciation on the furniture referred to in Event 5 . The furniture had a $2,000 estimated salvage value and a 5 -year useful life. 7. On January 1, paid $18,000 to buy manufacturing equipment to make the pies faster and more efficiently. 8. Recorded annual depreciation on the equipment referred to in Event 7 . It had a $2,000 estimated salvage value and a 4-year useful life. 9. Completed 5,000 pies. Determine the cost per pie and the sales price per pie assuming the sales price is cost plus 80% of cost. Record the sale of 3,000 pies sold. 10. Code the recognition of cost of goods sold for the units sold in Event 9. Required Show how these events would affect the balance sheet and income statement by recording them in a horizontal financial statements model like the one shown below. Show your calculations