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Life, Inc., experienced the following events in Year 1, its first year of operation: 1. Performed counseling services for $24.400 cash. 2. On February 1. Year 1 paid $16,800 cash to rent office space for the coming year, 3. Adjusted the accounts to reflect the amount of rent used during the year Required Based on this information alones a. Record the events under an accounting equation, b. Prepare an income statement, balance sheet and statement of cash flows for the Year 1 accounting period c. Ignoring all other future events, what is the amount of rent expense that would be recognized in Year 29 Stmt Sheet Stmt Reg C Prepare a balance sheet for the Year 1 accounting period. (Do not round intermediate calculat LIFE, INC. Balance Sheet As of December 31, Year 1 Assets >> $ 7,600 1,400 $ 9,000 $ 0 Cash Prepaid rent Cash Total assets Liabilities Stockholders' Equity Retained earnings Common stock Total stockholders' equity Total liabilities and stockholders equity $ 9,000 > 0 $ 9,000 $ 9,000