The following information opplies to the questions displayed below] Lsach inc. experienced the following events for the first two years of its operations: Year 1: 1. Issued $10,000 of comman siuwn ioi cash. 2. Provided $100,000 of services on account. 7. Provid oid $33,000 of services and recelved cash. 4. Collected $67,000 cash from accounts recelvabie. 5. Pald $22,000 of saiaries expense for the year. 6. Adjusted the accounting records to reflect uncollectible accounts expense for the year. Leach estimates that 8 percent of the ending accounts receivable balance will be uncollectible. Year 2: 1. Wrote off an uncollectible account for $690. 2. Provided $120,000 of services on account. 3. Provided $20.000 of services and collected cash. 4. Colected $102,000 cash from accounts receivable. 5. Pald $26,000 of salaries expense for the year. 6. Adjusted the nccounts to reflect uncollectible accounts expense for the year. Leach estimates that 8 percent of the anding accounts recelvable balance will be uncollectible. a. Organize the transaction data in accounts under an accounting equation. b. Picpare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year 1 . c. What is the net realizabie value of the accounts receivable at December 31, Year 1 ? Complete this question by entering your answers in the tabs below. Organize the transaction dota in a . under an accounting equation. (Enter any decreases to account balances with a minus sign. If there is ne effice on th eqceoin(stitlas for Retained Eamings, leave the cell blank. Not all cells will require entry.) a. Organize the transaction data in accounts under an accounting equation. b. Prepore the income statement statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year 1. c. What is the net realizabie value of the accounts receivable at December 31, Year 1 ? Complete this question by entering your answers in the tabs below. Prepare the income statement for Year 1 . Complete this question by entering your answers in the tabs below. Prepare the statement of cha 'stockholders' equity for Year 1. \begin{tabular}{|l|l|l|} \hline \multicolumn{2}{|c|}{ LEACH INC. } & \\ \hline Aalance Sheet & \\ \hline Assets & & \\ \hline & Aember 31, Year 1 & \\ \hline & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline Stockholders' equity & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total stockholders' equity & & \\ \hline \end{tabular} Prepare the statement of cash flows for Year 1. (Cash outflows should be indicated with a minus sign. LEACH INC. Statement of Cash Flows - ar Endisd December 31, Year 1 \begin{tabular}{|l|l|l|} \hline Cash flows from operating activities & & \\ \hline & & \\ \hline Net cash flow from operating activities & & \\ \hline Cash flows from investing activities & & $ \\ \hline Cash flows from financing activities & & \\ \hline & & \\ \hline & & \\ \hline Net cash flow from financing activities & & $ \\ \hline \end{tabular} Complete this question by entering your answers in the tabs below. What is the net realizable value of the accounts receivable at December 31, Year 1
