Yard Designs (YD) experienced the following events in Year 1, its first year of operation: 1. On October 1, Year 1, YD collected $27,600 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. Req B Inc Req A Req B Bal Stmt Sheet Req B Stmt of Cash Flows Req C Record the events under an accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign.) YARD DESIGNS Accounting Equations for the Year 1 Stockholders' Assets = Liabilities + Equity Event Cash Unearned + Revenue Retained Earnings Event Adj. = 0 = + + 0+ 0