Yard Designs (YD) experienced the following events in Yeart its first year of operation 11 1. On October 1, Year 1, YD collected $39,600 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, 8 22 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 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. BA Reg 8 inc Start Red Bull Sheet Rea Stomto Cash Flow Regc 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 Assets Libres Stockholders Equity Cash Une med Retained Revenue Earnings Event leverd M Complete this question by entering your answers in the tabs below. M She Son of Cash Flows Renc Pretare a te statement for the Year 1 accounting periodi (Do not round Intermedie VARD DESIGNS For the Year Ended December 31, Year 1 Complete this question by entering your answers in the tabs below. 11 Reg B Inc Stmt Rega Req B Bal Sheet Reg B Stmt of Cash Flows Reg C 8 022725 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 equity Reg A Req B Inc Stmt Reg B Bal Sheet Reg B Stmt of Cash Flows Reg C Prepare a statement of cash flows for the Year 1 accounting period. (Do not round Intermediate calcula deducted should be indicated 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 Complete this question by entering your answers in the tabs below. Rea Inc Stri Regal Sheet Reg B Stmt of Cash Flows Beg Req Ignoring all other future events, what is the amount of service revenue that would be recognized in Year 2? (Do not roum Intermediate calculations.) Service revenge to be recognized in Year 2