The folkowing transections apply to Ozark Sales for Year 1 : 1. The business was started when the company receiwed $49,500 from the issue af common stack. 2. Purchased equipment irventory of $174,500 on account 3. Sold equipment for $202.500 cash inot including sales taxk. Sales tax of 7 percent is colected when the merchandise is sold. The merchandise had a cost af $127,500. 4. Provided a six-month warrenty on the equipment sold. Based on industry estimetes, the warrenty claims would emount to 4 percent of sales. 5. Paid the sakes trax to the state ageney an $152,500 of the sales. 6. On September 1, Yeer 1, borrowed $21,000 from the local bank. The note had a 7 percent interest rate and matured on March 1 , Year 2. 7. Paid $5,500 far warranty repairs during the yoar. 8. Paicl operating expenses of $52,500 for the yeer- 9. Paik $125,000 of accounts payable. 10. Recorded oecrued interest on the note issued in transaction ne. 6. Required a. fecord the given transections in a horizontal statements model. b. Prepare the income statement, balanee shess, and statement of cash flows for Year 1. c. What is the total emount of current liebilities at December 31 , Year 1 ? Complete this quastion by entering your answers in the talas below. The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company received $48,500 from the issue of common stock. 2. Purchased equipment inventory of $174,500 on account. 3. Sold equipment for $202,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $127,500. 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 $152,500 of the sales. 6. On September 1 , Year 1 , borrowed $21,000 from the local bank. The note had a 7 percent interest rate and matured on March 1 , Year 2. 7. Paid $5,500 for warranty repairs during the year. 8. Paid operating expenses of $52,500 for the year. 9. Paid $125,000 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 liabilities at December 31 , Year 1 ? Complete this question by entering your answers in the tabs below. Prepare the income statement for Year 1. (Round your answers to the nearest whole dollar.) The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company received $48,500 from the issue of common stock. 2. Purchased equipment inventory of $174,500 on account. 3. Sold equipment for $202,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $127,500. 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 $152,500 of the sales. 6. On September 1, Year 1, borrowed $21,000 from the local bank. The note had a 7 percent interest rate and matured on March 1 , Year 2. 7. Paid $5,500 for warranty repairs during the year. 8. Paid operating expenses of $52,500 for the year. 9. Paid $125,000 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 liabilities at December 31 , Year 1 ? Complete this question by entering your answers in the tabs below. Prepare the balance sheet for Year 1 . (Round your answers to the nearest whole dollar.) The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company received $48,500 from the issue of common stock. 2. Purchased equipment inventory of $174,500 on account. 3. Sold equipment for $202,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $127,500. 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 $152,500 of the sales. 6. On September 1, Year 1, borrowed $21,000 from the local bank. The note had a 7 percent interest rate and matured on March 1 , Year 2. 7. Paid $5,500 for warranty repairs during the year. 8. Paid operating expenses of $52,500 for the year. 9. Paid $125,000 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 liabilities at December 31, Year 1 ? Complete this question by entering your answers in the tabs below. Prepare the statement of cash flows for Year 1. (Cash outflows should be indicated with a minus sign.) The following transactions apply to Ozark Sales for Year 1 : 1. The business was started when the company received $48,500 from the issue of common stock. 2. Purchased equipment inventory of $174,500 on account. 3. Sold equipment for $202,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $127,500. 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 $152,500 of the sales. 6. On September 1 , Year 1 , borrowed $21,000 from the local bank. The note had a 7 percent interest rate and matured on March 1 , Year 2. 7. Paid $5,500 for warranty repairs during the year. 8. Paid operating expenses of $52,500 for the year. 9. Paid $125,000 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 liabilities at December 31, Year 1? Complete this question by entering your answers in the tabs below. What is the total amount of current liabilities at December 31 , Year 1? (Round your answer to the nearest whole dollar.) The folkowing transections apply to Ozark Sales for Year 1 : 1. The business was started when the company receiwed $49,500 from the issue af common stack. 2. Purchased equipment irventory of $174,500 on account 3. Sold equipment for $202.500 cash inot including sales taxk. Sales tax of 7 percent is colected when the merchandise is sold. The merchandise had a cost af $127,500. 4. Provided a six-month warrenty on the equipment sold. Based on industry estimetes, the warrenty claims would emount to 4 percent of sales. 5. Paid the sakes trax to the state ageney an $152,500 of the sales. 6. On September 1, Yeer 1, borrowed $21,000 from the local bank. The note had a 7 percent interest rate and matured on March 1 , Year 2. 7. Paid $5,500 far warranty repairs during the yoar. 8. Paicl operating expenses of $52,500 for the yeer- 9. Paik $125,000 of accounts payable. 10. Recorded oecrued interest on the note issued in transaction ne. 6. Required a. fecord the given transections in a horizontal statements model. b. Prepare the income statement, balanee shess, and statement of cash flows for Year 1. c. What is the total emount of current liebilities at December 31 , Year 1 ? Complete this quastion by entering your answers in the talas below. The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company received $48,500 from the issue of common stock. 2. Purchased equipment inventory of $174,500 on account. 3. Sold equipment for $202,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $127,500. 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 $152,500 of the sales. 6. On September 1 , Year 1 , borrowed $21,000 from the local bank. The note had a 7 percent interest rate and matured on March 1 , Year 2. 7. Paid $5,500 for warranty repairs during the year. 8. Paid operating expenses of $52,500 for the year. 9. Paid $125,000 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 liabilities at December 31 , Year 1 ? Complete this question by entering your answers in the tabs below. Prepare the income statement for Year 1. (Round your answers to the nearest whole dollar.) The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company received $48,500 from the issue of common stock. 2. Purchased equipment inventory of $174,500 on account. 3. Sold equipment for $202,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $127,500. 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 $152,500 of the sales. 6. On September 1, Year 1, borrowed $21,000 from the local bank. The note had a 7 percent interest rate and matured on March 1 , Year 2. 7. Paid $5,500 for warranty repairs during the year. 8. Paid operating expenses of $52,500 for the year. 9. Paid $125,000 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 liabilities at December 31 , Year 1 ? Complete this question by entering your answers in the tabs below. Prepare the balance sheet for Year 1 . (Round your answers to the nearest whole dollar.) The following transactions apply to Ozark Sales for Year 1: 1. The business was started when the company received $48,500 from the issue of common stock. 2. Purchased equipment inventory of $174,500 on account. 3. Sold equipment for $202,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $127,500. 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 $152,500 of the sales. 6. On September 1, Year 1, borrowed $21,000 from the local bank. The note had a 7 percent interest rate and matured on March 1 , Year 2. 7. Paid $5,500 for warranty repairs during the year. 8. Paid operating expenses of $52,500 for the year. 9. Paid $125,000 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 liabilities at December 31, Year 1 ? Complete this question by entering your answers in the tabs below. Prepare the statement of cash flows for Year 1. (Cash outflows should be indicated with a minus sign.) The following transactions apply to Ozark Sales for Year 1 : 1. The business was started when the company received $48,500 from the issue of common stock. 2. Purchased equipment inventory of $174,500 on account. 3. Sold equipment for $202,500 cash (not including sales tax). Sales tax of 7 percent is collected when the merchandise is sold. The merchandise had a cost of $127,500. 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 $152,500 of the sales. 6. On September 1 , Year 1 , borrowed $21,000 from the local bank. The note had a 7 percent interest rate and matured on March 1 , Year 2. 7. Paid $5,500 for warranty repairs during the year. 8. Paid operating expenses of $52,500 for the year. 9. Paid $125,000 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 liabilities at December 31, Year 1? Complete this question by entering your answers in the tabs below. What is the total amount of current liabilities at December 31 , Year 1? (Round your answer to the nearest whole dollar.)