The following transactions pertain to Smith Training Company for Year 1 : January 30 Established the business when it acquired $47,000 cash from the issue of connon stock. Rebruary 1 Paid rent for office space for two years, $33,000 cash. April 10 Purchased $820 of supplies on account. July 1 Received $22,000 cash in advance for services to be provided over the next year. July 20 Paid $615 of the accounts payable from April 10. August 15 Billed a customer $9,800 for services provided during Auqust. September 15 Completed a job and received $3,000 cash for services rendered. October 1 Paid employee salaries of $30,000 cash. October 15 Received $7,800 cash from accounts receivable. November 16 Billed custoeers $32,000 for services rendered on account. December 1 Paid a dividend of $1,300 cash to the stockholders. December 31 Adjusted records to recognize the services provided on the contract of July 1. Decomber 31 Recorded $2,000 of accrued-salaries as of December 31 . December 31 Physically counted supplies the year. (See February 1.) December 31 Physically counted supplies; $120 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. Note: Statement of Cash Flows only, enter any decreases to account balances and cash outflows with a minus sign. \begin{tabular}{|l|l|l|l|} \hline & SMITH TRANING COMPANY \\ \hline As of Decomber 31, Year 1 & & \\ \hline Assets & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Total assets & & & \\ \hline Liablities & & & \\ \hline \end{tabular}