The follwing events apply to Gulf Seafood for the year 1 fiscal year.

Required information [The following information applies lo the questions displayed below] The following events apply to Gulf Seafood for the Year 1 fiscal year 1. The company started when it acquired $20,000 cash by issuing common stock. 2. Purchased a new cooktop that cost $14,800 cashi. 3. Eamed $23,900 in cash revemue. 4. Paid 511,800 cash for salaries expense. 5. Adjusted the records to reflect the use of the cooktop. Purchased on lanuary 1, Year 1 , the cooktop has an expected useful life of four years and an estimated salvoge value of $2700 Use straighttine depreciation. The adjustment was made as of December 31, Year 1. Required: a. Record the above transactions in a horizontal statements model. Note: In the Statement of Cash Flows column, use the initisis (OA), on investing activify (IA), o finencing octivity (FA) and net chonge in cash (NC). Enter any decreoses to occoumt bolonces and cosh outflows with a minus sign. Not all cells require input. Required information [The following information applies to the questions displayed below) The following events apply to Gulf Seafood for the Year 1 fiscal year: 1. The company started when it acquired $20,000 cash by issuing common stock 2. Purchased a new cooktop that cost $14,800 cash. 3. Earned $23,900 in cash revenue. 4. Paid $11,800 cash for salaries expense: 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1 , Year 1 , the cooktop has an expected useful life of four years and an estimated salvage value of $2.700. Use straight-line depreciation. The adjustment was made as of December 31. Year 1. b. What amount of depreciation expense would Gulf Seafood report on the Year 1 income statement? Required information [The following information applies to the questions displayed below) The following events apply to Gulf Seafood for the Year 1 fiscal year: 1. The compary started when it acquired $20,000 cash by issuing common stock 2. Purchased a new cooktop that cost $14,800cash. 3. Earned $23.900 in cash revenue. 4. Paid $11,800 cash for salaries expense. 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, Year 1, the cooktop has an expected useful life of four years and an estimated salvage value of $2,700. Use straight-tine depreciation. The adjustment was made as of December 31 , Year 1 c. What amount of accumulated depreciation would Gulf Seafood report on the December 31, Year 2, balance sheet