The Pet Store experienced the following events for the Year 1 accounting period: 1. Acquired $85,000 cash from the issue of common stock. 2. Purchased $80,000 of inventory on account. 3. Received goods purchased in Event 2 FOB shipping point; freight cost of $950 paid in cash. 4. Sold inventory on account that cost $36,000 for $67,000. (Record the transactions on 2 lines; the sale as 4a and the cost of the sale as 4b.) 5. Freight cost on the goods sold in Event 4 was $1,180. The goods were shipped FOB destination. Cash was paid for the freight cost. 6. Customer in Event 4 returned $5,540 worth of goods that had a cost of $2,820. (Consistent with item 4. record the effect on sales as 68. and the effect on cost of sales as 6b.) 7. Collected $54,940 cash from accounts receivable. 8. Paid $57,200 cash on accounts payable. 9. Paid $3,220 for advertising expense. Required Record each event in a horizontal statements model. The first event is recorded as an example. (In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, and NA to indicate the element is not affected by the event. Enter any decreases to account balances and cash outflows with a minus sign.)