The following events apply to Lewis and Harper, a public accounting firm, for the Year $1$ accounting period:

$1.$ Performed $$70,000$ of services for clients on account.

$2.$ Performed $$40,000$ of services for cash.

$3.$ Incurred $$36,000$ of other operating expenses on account.

$4.$ Paid $$10,000$ cash to an employee for salary.

$5.$ Collected $$47,000$ cash from accounts receivable.

$6.$ Paid $$16,000$ cash on accounts payable.

$7.$ Paid a $$8,000$ cash dividend to the stockholders.

$7.$ Paid a $$8,000$ cash dividend to the stockholders.

a$.$ Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Statement of Cash Flows column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash, or leave blank to indicate the element is not affected by the event. The first event is shown as an example.