Un January 1, rear 1, Jana started a small nower merenanaising ousiness tnat sne namea jana 5 tiowers. ine company experienceo the following events during the first year of operation: 1. Started the business by issuing common stock for $43,000 cash. 2. Paid $28,000 cash to purchase inventory. 3. Sold merchandise that cost $20,000 for $42,000 on account. 4. Collected $37,000 cash from accounts recelvable. 5. Paid $9,800 for operating expenses. Required a. Organize ledger accounts under an accounting equation and record the events in the accounts. In the fast column of the table; provide appropriate account titles for the Retained Earnings amounts. b-1. Prepare an income statement. b-2. Prepare a bolance sheet. b-3. Prepare a statement of cash flows. c. Since Jana sold inventory for $42,000, she will be able to recover more than half of the $43,000 she invested in the stock. Do you agree with this statement? Complete this question by entering your answers in the tabs below. Organize ledger accounts under an accounting equation and record the events in the accounts. In the last column of the table, provide appropriate account titles for the Retained Earnings amounts. (If there is no effect on the Account Tities for Refained Earnings, leave the cell biank. Not all cells will require input. Enter any decreases to account balances with o minus slgs.) Earnings, leave the cell blank. Not all cells will require input. JANA'S FLOWERS Effect of Events on the Accounting Equation ReqB1> Prepare an income statement. Prepare a balance sheet. JANA'S FLOWERS Statement of Cash Flows For the, Year Ending December 31, Year 1 Cash flows from operating activities: Net cash flow from operating activities Complete this question by entering your answers in the tabs below. Since Jana sold inventory for $42,000, she will be able to recover more than half of the $43,000 she invested in the stock. Do you agree with this statement