Will upvote, thank you!

Exercise 2-20A Unearned revenue and the financial statements model LO 2-7 Clark Bell started a personal financial planning business when he accepted $53,000 cash as advance payment for managing the financial assets of a large estate. Bell agreed to manage the estate for a one-year period beginning June 1, Year 1. Required a. Show the effects of the advance payment and revenue recognition on the Year 1 financial statements using a horizontal statements model given below. In the Cash Flows column, use OA to designate operating activity, IA for investing activity, FA for financing activity, NC for net change in cash and NA if the account is not affected. (Do not round intermediate calculations and round your final answers to nearest whole number. Enter any decreases to account balances and cash outflows with a minus sign.) CLARK BELL PERSONAL FINANCIAL PLANNING Assets Event Horizontal Statements Model for Year 1 Stockholders' Liabilities + Income Statement Equity Unearned Retained + Revenue Expense = Net Income Revenue Earnings 53,000 + Statement of Cash Flow Cash 1. Advance payment 53,000 53,000 OA 2. Revenue earned + = INA Totals 53,000 53,000 + 0 0 0 = 0 53,000 NC b. How much revenue would Bell recognize on the Year 2 income statement? (Do not round intermediate calculations and round your final answer to nearest whole number.) Revenue to be recognized in Year 2 c. What is the amount of cash flow from operating activities in Year 2? Amount of cash flow from operating activities in Year 2