The following events apply to Brown and Birgin, a public accounting firm, for the 2014 accounting period:

1.

Performed $77,000 of services for clients on account.

2.

Performed $46,000 of services for cash.

3.

Incurred $40,000 of other operating expenses on account.

4.

Paid $18,000 cash to an employee for salary.

5.

Collected $60,000 cash from accounts receivable.

6.

Paid $18,000 cash on accounts payable.

7.

Paid a $6,000 cash dividend to the stockholders.

8.Accrued salaries were $3,200 at the end of 2014

Required

a.

Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash and NA to indicate the element is not affected by the event. The first event is recorded as an example. (Enter any decreases to account balances and cash outflows with a minus sign.) b. What is the amount of total assets at the end of 2014? Total assets = c. What is the balance of accounts receivable at the end of 2014? account receivable = d. What is the balance of accounts payable at the end of 2014? Accounts payable = E. What is net income for 2014? net income = F. What is the amount of net cash flow from operating activities for 2014? Net cash=