using the information from 3-1 create finacial statments using cash basis and the accrual basis

income statement

cash flow

balance sheet

1 Accrual basis accounting Oasis Health Care Inc. is owned and operated by Dr. George Hancock, the sole stockholder. During January 20Y6, Oasis Health Care entered into the following transactions: Jan. 1 Received $15,000 from Rivers Company as rent for the use of a vacant office in Oasis Health Care's building. Rivers paid the rent six months in a advance Paid $4,200 for an insurance premium on a general business policy. 6 Purchased supplies of $1,800 on account Collected $27.500 for services provided to customers on account. Paid creditors $3,000 on account. Invested an additional $25,000 in the business in exchange for capital stock. Billed patients $62,000 for services provided on account. Received $12,900 for services provided to customers who paid cash .. 30 Paid expenses as follows wages, $24,000, utilities, $6,000, rent on medical equip ment. $5,000, interest, $200, and miscellaneous, $2,500, Paid dividends of $15,000 to stockholders De Hancock). Instructions Analyze and record the January transactions for Oasis Health Care Inc., using the integrated financial statement framework. Record each transaction by date, and show the balance for each item after each transaction. The January 1, 20Y6, balances for the balance sheet are shown below. 9 11 18 20 25 30 Assets Liabilities + Accts Pre. Acc Acets Un Wages Notes Capital Cash + Rec. InsSupp.+Building - Depe.+ Land - Pay Rev. Pay - Pay Stock Ballan. 120.000 34.500 700 1,000 150,000 - 11.200 120.000 7,500 0 0 30.000 50.000 Stockholders Equity Retained - Earnings 227,500 o