The following list of accounts was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 1: Cash Accounts receivable Allowance for doubtful accounts $ 6,080 19,230 $ 1,740 Inventory Accounts payable Common stock Retained earnings 22,090 10,785 19,700 15,175 Transactions for Year 2 1. Acquired an additional $11,700 cash from the issue of common stock. 2. Purchased $60,100 of inventory on account. 3. Sold inventory that cost $63,400 for $93,600. Sales were made on account. 4. The company wrote off $900 of uncollectible accounts. 5. On September 1, LGS loaned $10,000 to Eden Co. The note had an 5 percent interest rate and a one-year term. 6. Paid $14,190 cash for operating expenses. 7. The company collected $78,860 cash from accounts receivable. 8. A cash payment of $53,790 was paid on accounts payable. 9. The company paid a $4,800 cash dividend to the stockholders. 10. Uncollectible accounts are estimated to be 2 percent of sales on account. 11. Recorded the accrued interest at December 31, Year 2 (see item 5). Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 2