Yard designs (YD) experienced the following events in year 1, its first year of operation: 1. on october 1, year 1, YD collected $54,000 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 year 1 accounting period. c. Ignoring all other future events, what is the amount of service revenue that would be recognized in year 2