Served Help You skipped this question in the previous attempt 5 The following events apply to Tracey's Restaurant for the Year 1 fiscal year, 1. Started the company when it acquired $36,000 cash from the issue of common stock, 2. Purchased a new cooktop that cost $35,000 cash. 3. Earned $49,000 in cash revenue. 4. Paid $33,000 cash for salaries expense, 5. Pald $7,200 cash for operating expenses. 6. Adjusted the records to reflect the use of the cooktop. The cooktop, purchased on January 1 Year 1, has an expected useful life of five years and an estimated salvage value of $2,000. Use straight-line depreciation. The adjusting entry was made as of December 31, Year 1. 01:01:39 Book Required a. Record the events in general ledger accounts under an accounting equation (Negative amounts should be indicated by a minus slgn.) int TRACEY'S RESTAURANT Accounting Equation for Year 1 Assets Stockholders' Equity Accum. Retained Cook Top Com. Stock Depr Earnings Event Cash 1. Issuesit 2. Pur cooktop 3. Rev. 4. Paid sal exp 5. Paid op. exp. 6. Depr. exp. Totals $ OS 0 $ 0 $ 0 $