Vulcan Service Co. experienced the following transactions for Year 1, its first year of operations: 1. Provided $91,000 of services on account 2. Collected $72,000 cash from accounts receivable. 3. Paid $36,000 of salaries expense for the year. 4. Adjusted the accounts using the following information from an accounts receivable aging schedule: Number of Days Past Due Amount Percent Likely to Be Uncollectible Allowance Balance Current $7,800 0.01 0-30 4,500 0.05 31-60 2,000 0.10 61-90 2,200 0.20 Over 90 days 2,500 8.50 Required a. Organize the transaction data in accounts under an accounting equation b. Prepare the income statement for Vulcan Service Co. for Year 1 c. What is the net realizable value of the accounts receivable at December 31, Year 1? Complete this question by entering your answers in the tabs below. Required A Required B Required C Organize the transaction data in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign. Not all cells require input.) VULCAN SERVICE CO. Accounting Equation for Year 1 Assets Liabilities Event Cash NRV Accounts Receivable 1 2 3 4 Bal . 0- Equity Common Stock Retained Account Titles for Retained Earnings Earnings . +