the Eaineng terssicon apoly tu Oret Siles ber hat therphaldive had a coet dith 1.506. B. Prid 803.700 at ecrouett pmyatre Racuited The following transactions apply to Orark Snles for Year t: 1. The business was staried when the company recelved 548,000 from the issue of common stock. 2. Purchased equipment inventory of $177,000 on account. 3. Sold equipment for $198,500 cash (not including seles thx). Sales tak of 8 percent is collected when the merchandise is sold. The merchandise had a cost or 5123,500 . 4. Provided a six-month warranty on the equipment sold. Bnsed on industry estimetes, the warranty ciaims would amount to 4 percent of sales. 5. Paid the sales tox to the state agency on $148,500 of the sales. 6. On September 1 . Year 1 , borrowed 320,000 from the local bank. The note had a 6 percent interest rate and matured on March 1 . Year 2. 7. Paid $5,900 for warranty repairs during the year 8. Paid operating expenses of $54,500 for the year. 9. Paid 5125,700 of accounts payable. 10. Recorded accrued interest on the note issued in transnction no. 6 . Required a. Recorg the given transacions in a horizontel statements modet. b. Prepare the income statement, balance sheet, and statement of cash fows for Year t. c. What is the total antount of cument liabilities at December 31 , Year 1 ? Complete this aueatien by entaring your answers in the tobs below. Prepare the income statwment for Year 1, (hound your arswers ta the nearest whele dollar). 2. Purchased equipment inventory of $177,000 on account. 3. Sold equlpment for $198,500 cash (not including sales tax). Sales tax of 8 percent is collected when the merchendise is sold. The merchandise had a cost of $123,500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 4 percent of sales. 5. Pald the sales tax to the state agency on $148,500 of the sales. 6. On September 1, Year 1, borrowed 520,000 from the local bank. The note had an 6 percent interest rate and matured on March 1, Year 2 . 7. Paid $5,900 for warranty repairs during the yeac. 8. Pald operating expenses of $54,500 for the yeac. 9. Paid $125,700 of accounts peyable. 10. Recorded accrued interest on the note issued in transection no, 6 . Required a. Record the given transactions in a horizontal statements model. b. Prepare the income statement, balance sheet, and statement of cash fows for Year 1. c. What is the total amount of current labilities at December 31, Year t ? Complete this guestien by entering your answers in the tabs belew. Prepare the balance sheat far Yoar 1. ftound your answers to the nesrest whole dollar) 1. The business was started when the compeny recelved $48,000 from the issue of common stock. 2. Purchased equipment ifventory of $177.000 on account. 3. Sold equipment for $198,500 cash (not including sales tax). Sales tax of 8 percent is collected when the merchandise is sold. The merchandise had a cost of $123,500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty ciaims would amount to 4 percent of sales. 5. Paid the sales tax to the state agency on $148,500 of the sales. 6. On September 1, Year 1, borrowed $20,000 from the local bank. The note had a 6 percent interest rate and matured on March 1, Year 2 . 7. Pald $5,900 for warranty repairs during the year. 8. Pald operating expenses of $54,500 for the yeat. 9. Paid $125,700 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6 . Required a. Record the given transactions in a horizontal statements model. b. Prepare the income statement, balance sheet, and statement of cash flows for Year 1 . c. What is the total amount of current linbilties at December 31, Year 1 ? Complete this question by entering your answers in the tabs belew. Prepare the statement of cash flows for Year 1. (Cash outflow should be indleated wath a minus sian.) The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company recelved $48,000 trom the issue of common stock. 2. Purchased equipment inventory of $177,000 on account. 3. Sold equipment for $198,500 cash (not including sales tax). Sales tax of 8 percent is collected when the merchandise is sold, The merchandise had a cost of $123,500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 4 percent of sales. 5. Paid the sales tax to the state agency on $148,500 of the sales. 6. On September 1, Year 1, borrowed $20,000 trom the local bank. The note had a 6 percent interest rate and matured on March 1, Year 2. 7. Paid $5,900 for warranty repairs during the year. 8. Paid operating expenses of 554,500 for the year. 9. Paid 5125,700 of accounts peyable. 10. Recorded accrued interest on the note issued in transaction no, 6 . Required a. Record the given transacions in a horizontal statements model. b. Prepare the income statement, baiance sheet, and statement of cash flows for Year 1. c. What is the total amount of current liabilities at December 31 , Year 17 Cemplete this queatien by antering yeur answers in the tabe balow. What is than totai ameunt of current kabilities at December 31, year 17 (kound your answer to the nearest whole dollar.) the Eaineng terssicon apoly tu Oret Siles ber hat therphaldive had a coet dith 1.506. B. Prid 803.700 at ecrouett pmyatre Racuited The following transactions apply to Orark Snles for Year t: 1. The business was staried when the company recelved 548,000 from the issue of common stock. 2. Purchased equipment inventory of $177,000 on account. 3. Sold equipment for $198,500 cash (not including seles thx). Sales tak of 8 percent is collected when the merchandise is sold. The merchandise had a cost or 5123,500 . 4. Provided a six-month warranty on the equipment sold. Bnsed on industry estimetes, the warranty ciaims would amount to 4 percent of sales. 5. Paid the sales tox to the state agency on $148,500 of the sales. 6. On September 1 . Year 1 , borrowed 320,000 from the local bank. The note had a 6 percent interest rate and matured on March 1 . Year 2. 7. Paid $5,900 for warranty repairs during the year 8. Paid operating expenses of $54,500 for the year. 9. Paid 5125,700 of accounts payable. 10. Recorded accrued interest on the note issued in transnction no. 6 . Required a. Recorg the given transacions in a horizontel statements modet. b. Prepare the income statement, balance sheet, and statement of cash fows for Year t. c. What is the total antount of cument liabilities at December 31 , Year 1 ? Complete this aueatien by entaring your answers in the tobs below. Prepare the income statwment for Year 1, (hound your arswers ta the nearest whele dollar). 2. Purchased equipment inventory of $177,000 on account. 3. Sold equlpment for $198,500 cash (not including sales tax). Sales tax of 8 percent is collected when the merchendise is sold. The merchandise had a cost of $123,500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 4 percent of sales. 5. Pald the sales tax to the state agency on $148,500 of the sales. 6. On September 1, Year 1, borrowed 520,000 from the local bank. The note had an 6 percent interest rate and matured on March 1, Year 2 . 7. Paid $5,900 for warranty repairs during the yeac. 8. Pald operating expenses of $54,500 for the yeac. 9. Paid $125,700 of accounts peyable. 10. Recorded accrued interest on the note issued in transection no, 6 . Required a. Record the given transactions in a horizontal statements model. b. Prepare the income statement, balance sheet, and statement of cash fows for Year 1. c. What is the total amount of current labilities at December 31, Year t ? Complete this guestien by entering your answers in the tabs belew. Prepare the balance sheat far Yoar 1. ftound your answers to the nesrest whole dollar) 1. The business was started when the compeny recelved $48,000 from the issue of common stock. 2. Purchased equipment ifventory of $177.000 on account. 3. Sold equipment for $198,500 cash (not including sales tax). Sales tax of 8 percent is collected when the merchandise is sold. The merchandise had a cost of $123,500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty ciaims would amount to 4 percent of sales. 5. Paid the sales tax to the state agency on $148,500 of the sales. 6. On September 1, Year 1, borrowed $20,000 from the local bank. The note had a 6 percent interest rate and matured on March 1, Year 2 . 7. Pald $5,900 for warranty repairs during the year. 8. Pald operating expenses of $54,500 for the yeat. 9. Paid $125,700 of accounts payable. 10. Recorded accrued interest on the note issued in transaction no. 6 . Required a. Record the given transactions in a horizontal statements model. b. Prepare the income statement, balance sheet, and statement of cash flows for Year 1 . c. What is the total amount of current linbilties at December 31, Year 1 ? Complete this question by entering your answers in the tabs belew. Prepare the statement of cash flows for Year 1. (Cash outflow should be indleated wath a minus sian.) The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company recelved $48,000 trom the issue of common stock. 2. Purchased equipment inventory of $177,000 on account. 3. Sold equipment for $198,500 cash (not including sales tax). Sales tax of 8 percent is collected when the merchandise is sold, The merchandise had a cost of $123,500. 4. Provided a six-month warranty on the equipment sold. Based on industry estimates, the warranty claims would amount to 4 percent of sales. 5. Paid the sales tax to the state agency on $148,500 of the sales. 6. On September 1, Year 1, borrowed $20,000 trom the local bank. The note had a 6 percent interest rate and matured on March 1, Year 2. 7. Paid $5,900 for warranty repairs during the year. 8. Paid operating expenses of 554,500 for the year. 9. Paid 5125,700 of accounts peyable. 10. Recorded accrued interest on the note issued in transaction no, 6 . Required a. Record the given transacions in a horizontal statements model. b. Prepare the income statement, baiance sheet, and statement of cash flows for Year 1. c. What is the total amount of current liabilities at December 31 , Year 17 Cemplete this queatien by antering yeur answers in the tabe balow. What is than totai ameunt of current kabilities at December 31, year 17 (kound your answer to the nearest whole dollar.)