The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period 1. Performed $67,000 of services for clients on account. 2. Performed $42,000 of services for cash 3. Incurred $32,000 of other operating expenses on accoumt. 4. Paid $16,000 cash to an employee for salary 5. Collected $50,000 cash from accounts receivable 6. Paid $17,000 cash on accounts payable 7. Paid an $5,000 cash dividend to the stockholders 8. Accrued salaries were $2,400 at the end of Year 1 Required a. Show the effects of the events on the financial statements using a horizontal financial 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 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. In the Statement of Cash Flow column, select "NA" if there is no effect.) LEWIS AND HARPER Horizontal Financial Statement Model For Accounting Year 1 Stockholders Assets Liabilities Income Statement Equity Statement of Cash Flow Event +Retained Salaries +Earning Cash+ Accounts Accounts RevenueE 67,000 - Expense Net Income Receivable Payable 67,000 67,000 67,000 NA 2. 4