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[The following information applies to the questions displayed below.) At the beginning of Year 2 Oak Consulting had the following normal balances in its accounts:

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[The following information applies to the questions displayed below.) At the beginning of Year 2 Oak Consulting had the following normal balances in its accounts: Account Cash Accounts receivable Accounts payable Common stock Retained earnings Balance $ 27,100 18,600 13,700 17,800 14,200 The following events apply to Oak Consulting for Year 2: 1. Provided $66,900 of services on account 2. Incurred $3,100 of operating expenses on account. 3. Collected $46,600 of accounts receivable. 4. Pald $35,700 cash for salaries expense. 5. Paid $15,120 cash as a partial payment on accounts payable. 6. Pald a $9,800 cash dividend to the stockholders. c. Show the beginning balances and the events in a horizontal statements model such as the following one: (In the Cash Flow column, use the initials "OA" for operating activities, "FA" for financing activities and "NC" for net change in cash. Select "NA" wherever required. Enter any decreases to account balance and cash outflows with a minus sign.) OAK CONSULTING Effect of Transactions on the Financial Statements for Year 2 Balance Sheet Income Statement Liabilities Stockholders' Equity Revenue Expenses Accounts Common Retained Payable Stock Earnings Net Income Statement of Cash Flow Assets Accounts Receivable No Cash Bal 1 2. 3 4 5 6 Bal

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