Weib Manufacturing experienced the following events during its first accounting period:

1. Recognized revenue from cash sale of products 2. Recognized cost ot goods sold from sale referenced in Event 1. 3. AcquIred cash by issuIng common stocK 4. Pala casn to purchase raw materias inat were used to make products. . Pala wages to proguction workers. 6. Paid salaries to administrative staff. 7. Recognized depreciation on manufacturing equipment. 8. recognized depreciation on offIce turniture

Required Use the following horizontal financial statements model to show how each event affects the GAAP-based balance sheet and income statement. Indicate whether the event increases (I), decreases (D), if an element was not affected by the event, leave the cell blank. The first transaction has been recorded as an example. Show accumulated depreciation as a decrease in the book value of the appropriate asset account. (For changes on the statement of cash flows, Indicate whether the item is an operating activity (OA), investing activity (IA), or financing activity (FA). If an element was not affected by the event, leave the cell blank.)