what is the expense on the income statement?

Yard Professionals Incorporated experienced the following events in Year 1, its first year of operation: 1. Performed services for $25,000 cash. 2. Purchased $7,000 of supplies on account. 3. A physical count on December 31 , Year 1 , found that there was $1,500 of supplies on hand. Required: Based on this information alone: a. Record the events in accounts under an accounting equation. Note: Enter any decreases to account balances with a minus sign. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. Note: In statement of cash flows, cash outflows should be indicated with a minus sign