YARD DESIGNS Balance Sheet As of December 31, Year? \begin{tabular}{|l|l|l|} \hline Assets & & \\ \hline & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline & & \\ \hline & & \\ \hline Total liabilities & & \\ \hline Stockholders' Equity & & \\ \hline & & \\ \hline & & \\ \hline Total stockholders' equity & \\ \hline Total liabilities and stockholders' equity & \\ \hline \end{tabular} fard Designs (YD) experienced the following events in Year 1, its first year of operation: 1. On October 1, Year 1, YD collected $37,200 for consulting services it agreed to provide during the next 12 months. 2. Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1. Required Based on this information alone: o. 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 service revenue that would be recognized in Year 2 ? Complete this question by entering your answers in the tabs below. Record the events under an accounting equation. (Do not round intermediate calculations. Enter any decreases to account. balances with a minus sign. Not all cells require input.) intermediate calculations.) Service revenue to be recognized in Year 2 YARD DESIGNS Statement of Cash Flows For the Year Ended December 31, Year 1 \begin{tabular}{|l|l|l|} \hline Cash flows from operating activities & & \\ \hline & & \\ \hline Net cash flow from operating activities & & \\ \hline Cash flows from investing activities & & \\ \hline Cash flows from financing activities & & \\ \hline Net change in cash & & \\ \hline & & \\ \hline Ending cash balance & $ \\ \hline \end{tabular} Prepare an income slastement ror tne redi 1dc YARD DESIGNS Balance Sheet As of December 31, Year? \begin{tabular}{|l|l|l|} \hline Assets & & \\ \hline & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline & & \\ \hline & & \\ \hline Total liabilities & & \\ \hline Stockholders' Equity & & \\ \hline & & \\ \hline & & \\ \hline Total stockholders' equity & \\ \hline Total liabilities and stockholders' equity & \\ \hline \end{tabular} fard Designs (YD) experienced the following events in Year 1, its first year of operation: 1. On October 1, Year 1, YD collected $37,200 for consulting services it agreed to provide during the next 12 months. 2. Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1. Required Based on this information alone: o. 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 service revenue that would be recognized in Year 2 ? Complete this question by entering your answers in the tabs below. Record the events under an accounting equation. (Do not round intermediate calculations. Enter any decreases to account. balances with a minus sign. Not all cells require input.) intermediate calculations.) Service revenue to be recognized in Year 2 YARD DESIGNS Statement of Cash Flows For the Year Ended December 31, Year 1 \begin{tabular}{|l|l|l|} \hline Cash flows from operating activities & & \\ \hline & & \\ \hline Net cash flow from operating activities & & \\ \hline Cash flows from investing activities & & \\ \hline Cash flows from financing activities & & \\ \hline Net change in cash & & \\ \hline & & \\ \hline Ending cash balance & $ \\ \hline \end{tabular} Prepare an income slastement ror tne redi 1dc