$[$The following information applies to the questions displayed below.$]$

The following events apply to Gulf Seafood for the Year $1$ fiscal year:

The company started when it acquired $$18,000$ cash by issuing common stock.

Purchased a new cooktop that cost $$14,600$ cash.

Earned $$21,300$ in cash revenue.

Paid $$12,900$ cash for salaries expense.

Adjusted the records to reflect the use of the cooktop. Purchased on January $1,$ Year $1,$ the cooktop has an expected useful life of four years and an estimated salvage value of $$3,000.$ Use straight$-$line depreciation. The adjustment was made as of December $31,$ Year $1.$

Required:

a$.$ Record the above transactions in a horizontal statements model.

Note: In the Statement of Cash Flows column, use the initials $($OA$),$ an investing activity $($IA$),$ a financing activity $($FA$)$ and net change in cash $($NC$).$ Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require input.

$\backslash$table$[[$GULF SEAFOOD$],[$Horizontal Statements Model$],[$Event$,$Balance Sheet,Income Statement,$\backslash$table$[[$Statement of Cash$],[$Flows$]]],[$Assets$,=,$Stockholder's Equity,Revenue,$-,$Expense,$=,$Net Income$],[$Cash$,+,\backslash$table$[[$Equipment$],[($BV$)]],=,\backslash$table$[[$Common$],[$Stock$]],+,\backslash$table$[[$Retained$],[$Earnings$]]],[1.,,+,,=,,+,,,-1,,=,,7],[2.,,+,,=,,+,,,-,,=,,$L$],[3.,,+,,=,,+,,,-,,=,,5],[4.,,+,,=,,+,,,-,,=,,1],[5.,,+,,=,,+,,,-,,=,,1],[$Balance$,0,+,0,=,0,+,0,0,-,0,=,0,08]]$