Yard Designs (YD) experienced the following events in Year 1, its first year of operation: 1. On October 1, Year 1, YD collected $39,600 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. Book Hint 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 thot would be recognized in Year 2? AK Print erences Complete this question by entering your answers in the tabs below. Rega Req B1 Inc Req B2 Bal Req B3 CF Stmt Reac Sheet Stmt 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.) YARD DESIGNS Accounting Equation Year 1 Stockholders Assets Liabilities + Equity Unearned Revenue Earnings Retained Event Cash + w Complete this question by entering your answers in the tabs below. Req B1 Inc Req A Req B2 Bal Req B3 CF Stmt Sheet Stmt Reqc Record the events under an accounting equation. (Do not round intermediate calculations. Enter any decreases to acco balances with a minus sign. Not all cells require input.) YARD DESIGNS Accounting Equation Year 1 Stockholders' Assets Liabilities Equity Unearned Retained Cash Revenue Earnings Event Event Adjusting + Req B1 Ine Stmt > 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. Reg A Req B1 Inc Req B2 Bal Req B3 CF Stmt Sheet Stmt Reqc Prepare an income statement for the Year 1 accounting period. (Do not round Intermediate calculations.) YARD DESIGNS Income Statement For the Year Ended December 31, Year 1 Check Complete this question by entering your answers in the tabs below. Req B1 Inc Reg A Req B2 Bal Req 83 CF Stmt Sheet Stmt Reqc Prepare a balance sheet for the Year 1 accounting period. (Do not round intermediate calculations.) YARD DESIGNS Balance Sheet As of December 31, Year 1 Assets Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' oquity Req A Req B1 Inc Stmt Req B2 Bal Sheet Req B3 CF Stmt Reqc Prepare the statement of cash flows for the Year 1 accounting period. (Do not round intermediate calculations. Enter cash outflows with a minus sign.) YARD DESIGNS Statement of Cash Flows For the Year Ended December 31, Year 1 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities Cash flows from financing activities Net change in cash Ending cash balance Req B2 Bal Shoot Reqc > 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. Stmt Reg A Req B1 Inc Reg B2 Bal Req B3 CF Sheet Stmt Reqc Ignoring all other future events, what is the amount of service revenue that would be recognized in Year 2? (Do not round Intermediate calculations.) Service revenue to be recognized in Year 2