WeIb Manutacturing experienced the tollowing events during its tirst accounting period:

Recognized revenue from cash sale of products.

Recognized cost of goods sold from sale referenced in Event $1.$

Acquired cash by issuing common stock.

Paid cash to purchase raw materials that were used to make products.

Paid wages to production workers.

Paid salaries to administrative staff.

Recognized depreciation on manufacturing equipment.

Recognized depreciation on office furniture.

Required

Use a horizontal financial statements model to show how each event affects the GAAP$-$based balance sheet and income statement. Select Increase or Decrease to show the effect on each element. Also, for events that affect the Statement of Cash Flows indicate whether the event is a financing activity $($FA$),$ an investing activity $($IA$),$ or an operating activity $($OA$).$ The first transaction has been recorded as an example. Show accumulated depreciation as a decrease in the book value of the appropriate asset account.

Note: Leave cells blank if no input is needed.

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