The Containers Incorporated experienced the following events during its first year of operations, Year $1$:

Acquired $$42,000$ cash by issuing common stock.

Earned $$25,000$ revenue on account.

Paid $$18,000$ cash for operating expenses.

Borrowed $$10,000$ cash from a bank.

Collected $$22,000$ of the balance in accounts receivable.

Paid a $$1,000$ cash dividend.

Required:

Show the effects of the events on the financial statements using a horizontal financial statements model. In the Statement of Cash Flows column, use OA to designate operating activity, IA for investment activity, and FA for financing activity. The first event is recorded as an example."

Would the accounts receivable account appear in the assets, liabilities, or stockholders' equity section of the December $31,$ Year $1,$ balance sheet?

Determine the balance of the accounts receivable account that would appear on the December $31,$ Year $1,$ balance sheet.

Determine the amount of net income that would appear in the Year $1$ income statement.

Determine the amount of the cash flow from operating activities that would appear in the Year $1$ statement of cash flows.