The Candle Shop experienced the following events during its first year of operations, Year 1: 1. Acquired cash by issuing common stock. 2. Paid a cash dividend to the stockholders. 3. Paid cash for operating expenses. 4. Borrowed cash from a bank. 5. Provided services and collected cash. 6. Purchased land with cash. 7. Determined that the market value of the land is higher than the historical cost. Required a. Indicate whether each event is an asset source, use, or exchange transaction. b. Use a horizontal statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. Indicate whether the event increases (I) or decreases (D), or, if there is no effect, leave the cell blank. Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). The first transaction is shown as an example. Complete this question by entering your answers in the tabs below. Use a horizontal statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. Indicate whether the event increases (I) or decreases (D). Also, in the Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA). The first transaction is shown as an example. (Not all cells require input. If a transaction has no impact, leave the cell blank.)