Yard Professionals Inc. experienced the following events in Year 1, its first year of operation: 1. Performed services for $29,500 cash. 2. Purchased $7,600 of supplies on account 3. A physical count on December 31, Year 1, found that there was $1,530 of supplies on hand. 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. What is the balance in the Supplies account as of January 1, Year 2? d. What is the balance in the Supplies Expense account as of January 1, Year 2? Complete this question by entering your answers in the tabs below. Rega Req Bl Inc Sumt Reg 82 81 Sheet Red 83 CE Strnt ReqC and D Record the events under an accounting equation (Not all cell require input. Enter any decreases to account balances with minus sign) YARD PROFESSIONALS INC. Effect of Events on the Accounting Equation Assets Liabilities Event Stockholders Equity Rotained Earnings Cash Supplies Accounts Payable 1 Provided service 22 Purchased supplies 3. Used supplies Totats 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. What is the balance in the Supplies account as of January 1, Year 2? d. What is the balance in the Supplies Expense account as of January 1, Year 2? Complete this question by entering your answers in the tabs below. Reg A Req B1 Inc Stmt Req B2 Bal Sheet Reg B3 CF Stmt Reg C and D Prepare an income statement for the Year 1 accounting period. YARD PROFESSIONALS INC. Income Statement For the Year Ended December 31, Year 1 $ 0 & Rega Req B2 Bal Sheet > the tabs below. Reg A Req B1 Inc Stmt Req B2 Bal Sheet Reg B3 CF Stmt Reg C and D Prepare a balance sheet for the Year 1 accounting period. YARD PROFESSIONALS INC. Balance Sheet As of December 31, Year 1 Assets Total assets $ 0 Liabilities + Total liabilities 0 Stockholders' Equity Total stockholders' equity 0 Total liabilities and stockholders equity S 0 1. Performed services for $29,500 cash. 2. Purchased $7,600 of supplies on account. 3. A physical count on December 31, Year 1, found that there was $1,530 of supplies on hand. 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. What is the balance in the Supplies account as of January 1, Year 2? d. What is the balance in the Supplies Expense account as of January 1, Year 2? Complete this question by entering your answers in the tabs below. Reg A Req B1 Inc Stmt Req B2 Bal Sheet Req 83 CF Stmt Reg C and D What is the balance in the Supplies account as of January 1, Year 2? What is the balance in the Supplies Expense a of January 1, Year 2? c. Supplies d. Supplies expense