The following events apply to Tracey's Restaurant for the Year 1 fiscal year: 1. Started the company when it acquired $39,000 cash from the issue of common stock. 2. Purchased a new cooktop that cost $38,000 cash. 3. Earned $52,000 in cash revenue. 4. Paid $36,000 cash for salarles expense. 5. Paid $7,000 cash for operating expenses. 6. Adjusted the records to reflect the use of the cooktop. The cooktop, purchased on January 1, Year 1, has an expected useful Ife of five years and an estimated salvage value of $4,500. Use straight-line depreclation. The adjusting entry was made as of December 31 , Year 1. Required a. Record the events in general ledger accounts under an accounting equation. b. What amount of depreciation expense would Tracey's report on the Year 2 income statement? c. What amount of accumulated depreciation would Tracey's report on the December 31 , Year 2, balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 2 ? Complete this question by entering your answers in the tabs below. Record the events in general ledger accounts under an accounting equation. (Enter decreases to account balances with a minus sign. Not all cells require input.) The following events apply to Tracey's Restaurant for the Year 1 fiscal year: 1. Started the company when it acquired $39,000 cash from the Issue of common stock. 2. Purchased a new cooktop that cost $38,000 cash. 3. Earned $52,000 in cash revenue. 4. Paid $36,000 cash for salarles expense. 5. Paid $7,000 cash for operating expenses. 6. Adjusted the records to reflect the use of the cooktop. The cooktop, purchased on January 1, Year 1, has an expected useful Ife of five years and an estimated salvage value of $4,500. Use straight-line depreclation. The adjusting entry was made as of December 31, Year 1. Required a. Record the events in general ledger accounts under an accounting equation. b. What amount of depreciation expense would Tracey's report on the Year 2 income statement? c. What amount of accumulated depreciation would Tracey's report on the December 31, Year 2, balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 2 ? Complete this question by entering your answers in the tabs below. What amount of depreciation expense would Tracey's report on the Year 2 income statement? What amount of accumulated depreciation would Tracey's report on the December 31 , Year 2, balance sheet? The following events apply to Tracey's Restaurant for the Year 1 fiscal year: 1. Started the company when it acquired $39,000 cash from the Issue of common stock. 2. Purchased a new cooktop that cost $38,000 cash. 3. Earned $52,000 in cash revenue. 4. Pard $36,000 cash for salarles expense. 5. Paid $7,000 cash for operating expenses. 6. Adjusted the records to reflect the use of the cooktop. The cooktop, purchased on January 1, Year 1, has an expected useful Iffe of five years and an estimated salvage value of $4,500. Use straight-line depreclation. The adjusting entry was made as of December 31, Year 1. Required a. Record the events in general ledger accounts under an accounting equation. b. What amount of depreciation expense would Tracey's report on the Year 2 income statement? c. What amount of accumulated depreciation would Tracey's report on the December 31, Year 2, balance sheet? d. Would the cash flow from operating activities be affected by depreciation in Year 2? Complete this question by entering your answers in the tabs below. Would the cash flow from operating activities be affected by depreciation in Year 2