The following events apply to Gulf Seafood for the Year 1 fiscal year: 1. The company started when it acquired $16,000 cash by issuing common stock. 2. Purchased a new cooktop that cost $12,200 cash. 3. Earned $20,700 in cash revenue. 4. Paid $11,300 cash for salaries expense. 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, Year 1, the cooktop has an expected useful life of four years and an estimated salvage value of $2,500, Use straight-line depreciation. The adjusting entry was made as of December 31, Year 1 . Required a. Record the above transactions in a horizontal statements model. b. What amount of depreciation expense would Gulf Seafood report on the Year 1 income statement? c. What amount of accumulated depreciation would Gulf Seafood report on the December 31, Year 2, bolance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 1? Complete this question by entering your answers in the tabs below. Record the previous transactions in a horizontal statements model, Also, in the Statement of Cash Flows column, classify the cash flows as operating activities (OA), Invest activities (IA), or financing activitles (FA). Note: Enter any decreases to account balances and cash outfiows with a minus sign. Leave cells blank if no input is needed. b. What amount of depreciation expense would Gulf Seafood report on the Year 1 income statement? c. What amount of accumulated depreciation would Gulf Seafood report on the December 31 , Year 2 , balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 1