***** Ultra Day Spa provided $86,950 of services during Year 1. All customers paid for the services with credit cards. Ula suited the credit card receipts to the credit card company immediately. The credit card company pold Ultra cash in the amount of face value ieu a 2 percent service charge Required a. Record the credit card sales and the subsequent collection of accounts receivable in a horizontal statements modelike the one shown here in the Cash Flow column, indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element is not affected by the event, leave the cell blank. b. Based on this information alone, answer the following questions. (1) What is the amount of total assets at the end of the accounting period? (2) What is the amount of revenue reported on the income statement? (3) What is the amount of cash flow from operating activities reported on the statement of cash flows? Complete this question by entering your answers in the tabs below. Required A Required B Record the credit card sales and the subsequent collection of accounts receivable in a horizontal statements model like the one shown here. In whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element is not affected by the event, leav intermediate values. Round your final answers to the nearest whole dollar. Not every cell will require entry. Enter any decreases to account balu Balance Sheet Assets Liab + Acct Rec. ULTRA DAY SPA Horizontal Statements Model Income Statement Equity Ret. Ear Revenue Expense - Net Income + Cash Cash Flows Event 1. 2 Renee Required B Required A Required B Based on this information alone, answer the following questions: (Do not round intermediate values. Round your answer to nearest whole dollar.) (1) What is the amount of total assets at the end of the accounting period? (2) What is the amount of revenue reported on the income statement? (3) What is the amount of cash flow from operating activities reported on the statement of cash flows? Show less 1. Total assets 2. Revenue recognized 3. Cash flow from operating activities