Shamrock Sweets, a local chocolate shop, experienced the following events during its first year of operations, Year 1: 1. Acquired $472,000 cash needed to start the company by Issuing common stock. 2. Purchased a retail building to make and sell chocolate for $222,000 cash. 3. Earned $76,000 cash from the sale of chocolates during its first year of operations. 4. Borrowed $172,000 cash from a local bank to assist in financing future operations. Required: Use a horizontal financial statements model to show how each event affects the balance sheet, Income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. The first transaction is shown as an example. Note: In the Cash Flow column, use OA to designate operating activity, IA for investment activity. FA for financing activity, and NC for net change in cash. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require an Input - leave cells blank if there is no corresponding input needed. Event Number Assets Cash Building Balance Sheet Liabilities Notes Payable Income Statement Stockholders' Equity Common Retained Revenue Expenses = Net Income Statement of Cash Flows Stock Earnings 1. 472,000+ 472,000+ 472,000 FA 2. + = 3. + 4. Total 472,000+ 0= 0+ 472,000+ 0 0 0 0 472,000