Exercise 2-9 Supplies on financial statements LO 2-3, 2-6 Yard Professionals Inc. experienced the following events in 2018, its first year of operation: 1. Performed counseling services for $19,500 cash. 2. Purchased $6,600 of supplies on account. 3. A physical count on December 31, 2018, found that there was $1,280 of supplies on hand. Required Based on this information alone: a. Record the events under an accounting equation. b. Prepare an income statement, balance sheet, and statement of cash flows for the 2018 accounting period. c. What is the balance in the Supplies account as of January 1, 2019? d. What is the balance in the Supplies Expense account as of January 1, 2019? Complete this question by entering your answers in the tabs below. Req A Req B1 Inc Stmt Req B2 Bal Sheet Req B3 CF Stmt Reqs C and D Record the events under an accounting equation. (Enter any decreases to account balances YARD PROFESSIONALS INC. Effect of Events on the Accounting Equation Assets Liabilities Event Accounts Cash Supplies Performed counseling services 2. Purchased supplies 3. Used supplies Totals 00= Stockholders' Equity Retained Earnings * + + + - Rea Reg B1 Ins Stmt > JUHL Sheet JLTIL Prepare an income statement for the 2018 accounting period. YARD PROFESSIONALS INC. Income Statement For the Year Ended December 31, 2018 YARD PROFESSIONALS INC. Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash Ending cash balance