Sye Chase started and operated a small family architectural firm in Year 1. The firm was affected by two events: (1) Chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. There were $250 of supplies on hand as of December 31, Year 1. Exercise 13-10A (Static) Part c. Show the above transactions in a horizontal statements model. (Enter any decreases to account balances and cash outflows with a minus sign. In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity and NC for net change in cash. Not all cells require input.) CHASE ARCHITECTURAL SERVICES Effect of Transactions on the Financial Statements for Year 1 Balance Sheet Income Statement Liabilities + Stockholders' Equity Accounts Common Retained Revenue Expense = Net Income Payable Earnings Stock No. Statement of Cash Flows Assets Accounts + Receivable Supplies a1 a2 = b. = Bal. 0+ 0 = 0 0+ 0 0 1 0 = 0 01