The following transactions pertain to Smith Training Company for Year 1 Jan. 30 Established the business when it acquired $48,000cash from the issue of comon stock. Feb. I Paid rent for office space for two years, $36,800 cash. Apr. 10 Purchased $710 of supplies on account. July 1 Received $26, e0e cash in advance for services to be provided over the next year. 20 Paid $533 of the accounts payble from April 10 . Aug. 15 Billed a customer $10,300 for services provided during August. Sept.15 completed a job and received $2,560 cash for services rendered. oct. 1 Paid enployee salaries of $36,50 cash. 15 Received $8,400 cash from accounts receivable. Nov. 16 8illed customers $35,500 for services rendered on account. Dec. 1 PaSd a dividend of $1,400 cash to the stockholders. 31 Adjusted records to recognize the services provided on the contract of July 1. 31 Recorded $2,400 of accrued salaries as of Decenber 31 . 31 Recorded the rent expense for the year. (See February 1:) 31 Physically counted supplies; sse was on hand at the end of the period. d. Prepare the income statement, statement of changes in stockholders' equity, balance sheet, and statement of cash flows for Year 1. (Statement of Cash Flows only, enter any decreases to account balances and cash outtlows with a minus sign.) SMITH TRAINING COMPANY Financial Statements For the Year Ended December 31, Year 1 Income Statement Expenses Total expenses Statement of Changes in Stockholders' Equity Total Stockholders' Equity SMITH TRAINING COMPANY Balance Sheet As of December 31, Year 1 Assets SMITH TRAINING COMPANY Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities