Yard Professionals Inc. experienced the following events in Year 1, its first year of operation: 1. Performed services for $29,000 cash. 2. Purchased $5,200 of supplies on account. 3. A physical count on December 31, Year 1, found that there was $1,060 of supplies on hand. Required Based on this information alone: a. Record the events in accounts under an accounting equation. (Enter any decreases to account balances with a minus sign.) YARD PROFESSIONALS INC. Effect of Events on the Accounting Equation for Year 1 Event 1. Provided service 2. Purchased supplies 3. Used supplies Totals Assets Cash Supplies = = 0 0- Liabilities + Accounts Payable Stockholders' Equity Retained Earnings + + + 0+ 0