The following events apply to Paradise Vacations's first year of operations: 1. Acquired $23,000 cash from the issue of common stock on January 1, Year 1. 2. Purchased $950 of supplies on account. 3. Paid $4,560 cash in advance for a one-year lease on office space. 4. Earned $31,350 of revenue on account. 5. Incurred $12,950 of other operating expenses on account. 6. Collected $25,500 cash from accounts receivable. 7. Paid $9,150 cash on accounts payable. 8. Paid a $3,300 cash dividend to the stockholders. Information for Adjusting Entries 9. There was $180 of supplies on hand at the end of the accounting period. 10. The lease on the office space covered a one-year period beginning November 1. 11. There was $3,900 of accrued salaries at the end of the period. Required a. Record these transactions in general journal form. b. Post the transaction data from the journal to ledger T-accounts. c. Prepare a trial balance. d-1. Prepare an income statement. d-2. Prepare a statement of changes in stockholders' equity. d-3. Prepare a balance sheet. d-4. Prepare a statement of cash flows. PARADISE VACATIONS Statement of Cash Flows For the Year ended December 31, Year 1 Cash flows from operating activities \begin{tabular}{|l|r|r|} \hline Inflow from customers & & \\ \hline \multicolumn{1}{|c|}{ Outflow for expenses } & \multicolumn{1}{|r|}{} & \\ \hline & & \\ \hline Net cash flow from operating activities & & (1,180) \\ \hline Cash flows from investing activities & & \\ \hline Cash flows from financing activities & & \\ \hline Inflow from stock issue & 23,000 & \\ \hline Outflow for dividends & (3,300) & \\ \hline & 0 & \\ \hline Net cash flow from financing activities & & 19,700 \\ \hline Net change in cash & & 18,520 \\ \hline Add: Beginning cash balance & & \\ \hline Ending cash balance & & $8,520 \\ \hline \end{tabular}