Yard Designs (YD) experienced the following events in Year 1 , its first year of operation: 1. On October 1, Year 1, YD collected $31,200 for consulting services it agreed to provide during the coming year. 2. Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1. Required Based on this information alone: 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 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 balances with a minus sign.) Prepare an income statement for the Year 1 accounting period. (Do not round intermediate calculations. Prepare a balance sheet for the Year 1 accounting period. (Do not round intermediate calculations.) YARD DESIGNS Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities: \begin{tabular}{|l|l|l|} \hline & & \\ \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} On October 1, Year 1, YD collected $31,200 for consulting services it agreed to provide during the coming year. Adjusted the accounts to reflect the amount of consulting service revenue recognized in Year 1. Required Based on this information alone: 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 service revenue that would be recognized in Year 2 ? Complete this question by entering your answers in the tabs below. Ignoring all other future events, what is the amount of service revenue that would be recognized in Year 2 ? (Do not round intermediate calculations.)