The following accounting events apply to Mary's Designs for the year Yeart Asset Source Transactions 1. Began operations by acquiring $19.000 of cash from the issue of common stock 2 Performed services and collected cash of $650. 3. Collected $4.900 of cash in advance for services to be provided over the next 12 months. 4. Provided $10.500 of services on account. 5. Purchased supplies of $360 on account. Asset Exchange Transactions 6. Purchased $3.300 of land for cash. 7. Collected $7.900 of cash from accounts receivable. 8. Purchased $480 of supplies with cash. 9. Pald $4,000 for one year's rent in advance. Asset Use Transactions 10. Pald $3,000 cash for salaries of employees. 11. Pald a cash dividend of $1,800 to the stockholders. 12. Pald $360 of the accounts payable with cash. Claims Exchange Transactions 13. Placed an advertisement in the local newspaper for $190 on account. 14. Incurred utility expense of $90 on account. Adjusting Entries 15. Recognized $3.675 of revenue for performing services. The collection of cash for these services occurred in a prior transaction. (See Event 3.) 16. Recorded $1.390 of accrued salary expense at the end of Year 17. Recorded supplies expense. Had $85 of supplies on hand at the end of the accounting period. 18. Recognized three months of expense for prepaid rent that had been used up during the accounting period. Required a. Record ench of the preceding events in T-account Bee End Ba Inres Payable Advertising Experte End. Bal Beg Bal End Bal b. Prepare a before closing trial balance VARY DEREN Before closing The Base December 31, Year 1 c. Use horizontal statements model to show how each event affects the balance sheet Income statement, and statement of cash dows. In cate whether the event increases . decresses or does not affect (NA) each element of the financial statements. Also, in the Cash Flow column, use the letters OA to designate operating style for investing activity, and FA for financing elity. The first evens recorded as an example MARY BDESIGNB Effect of Transactions on Financial statements Income Statement - Equity Revenue - Expencac = Net Income tement of Cash Flowe ITTTTTTTTTTTTTTTTTT