use the info in the first pic to help with second and third pic!

Dan Watson started a small merchandising business in Year 1 . The business experienced the following events during its first year of operation. Assume that Watson uses the perpetual inventory system. 1. Acquired $27,000 cash from the issue of common stock. 2. Purchased inventory for $21,600 cash. 3. Sold inventory costing $15,000 for $32,500 cash. Required o. Record the events in a horizontal statement model. In the Cash Flow column, use OA to designate operating activity. IA for Investment activity. FA for financing activity, or NC for net change in cash, If the element is not affected by the event leave the cell blank. b. Prepare an income statement for Year 1 (use the mulistep format). c. What is the amount of total assets at the end of the period? Complete this question by entering your answers in the tabs below. Record the events in a horizontal statement model. in the Cash flow column, use OA to designate operating activity, IA for invertment activity, FA for finar actity, or NC for net change in cash. If the element is not affected by the event, leave the cell bionk. (Not every cell wili reguire ently. Enthe any decrease DAN WATSON MERCHANDISING Effect of Events on Financial Statements Required B> c. What is the amount of total assets at the end of the period? Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 1 (use the multistep format). Mecula a. b. c