See the transactions described below for Blanco Incorporated. Determine whether each affects the income statement. (Yes/No) Note : Please answer with a Yes or No. 1. Blanco purchases inventory for $2,000, paying cash. NO 2. Blanco sells inventory to a customer, who pays $700 cash. YES 3. Employees of Blanco work during the first quarter of 2015, earning $25,000. Blanco pays the employees in cash. No 4. Employees of Blanco work during the third quarter of 2017, earnings $32,000. Blanco will pay the employees in the first week of the fourth quarter of 2017. YES 5. Blanco purchases inventory for $1,500 on March 15, agreeing to pay the supplier in full by April 14. NO 6. Blanco pays the bill noted in (e) on April 11. YES 7. On April 15, 2018, Blanco pays its taxes for 2017. YES