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 $47000 cash from accounts receivable 6. Paid $16,000 cash on accounts payable 7. Paid an $8,000 cash dividend to the stockholders. 8. Accrued salaries were $2,000 at the end of Year 1. ook