The following information applies to the questions displayed below.) The following transactions apply to Jova Company for Year 1, the first year of operation 1. Issued $10,000 of common stock for cash 2. Recognized $210,000 of service revenue earned on account 3. Collected $162,000 from accounts receivable. 4. Pald operating expenses of $125,000 5. Adjusted accounts to recognize uncollectible accounts expense. Jova uses the alto vance method of accounting for uncollectible accounts and estimates that uncollectible accounts expense will be 1 percent of sales on account The following transactions apply to Jova for Year 2: 1. Recognized $320,000 of service revenue on account 2. Collected $335,000 from accounts receivable, 3. Determined that $2,150 of the accounts receivable were uncollectible and wrote them off 4. Collected $800 of an account that had previously been written off. 5. Paid $205,000 cash for operating expenses. 6. Adjusted the accounts to recognize uncollectible accounts expense for Year 2. Jova estimates uncollectible accounts expense will be 0.5 percent of sales on account Required D Inc Required D Stmt Required D Bal Stmt Stkholder Eq Sheet Prepare an income statement for Year 2. Required D Stmt of Cash Flows JOVA COMPANY Income Statement For the Year Ended Year 2 no Expenses Total expenses Hu Required D Stmt Stkholder Eq> Required information Complete this question by entering your answers in the tabs below. Required D Inc Required D Stmt Stmt Required D Bal Required D Stmt of Cash Stkholder Eq Sheet Flows Prepare the statement of changes in stockholders' equity for Year 2. JOVA COMPANY Statement of Changes in Stockholders' Equity For the Year Ended Year 2 Beginning common stock $ 0 Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity 0 0 Required in Stmt Required v bale Stmt of Cash Stmt Sheet Stkholder Eq Flows Prepare the balance sheet for Year 2. JOVA COMPANY Balance Sheet As of December 31, Year 2 Assets 0 $ 0 Total assets Liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity 0 $ 0 Required in Stmt Required u ba Stmt of Cash Stmt Stkholder Eq Sheet Flows Prepare the statement of cash flows for Year 2. (Amounts to be deducted should be indicated with a minus sign.) JOVA COMPANY Statement of Cash Flows For the Year Ended Year 2 Cash flows from operating activities 0 Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Not change in cash Ending cash balance $