Yard Professionals Inc. experienced the following events In Year 1, Its first year of operation: 1. Performed services for $21,000 cash. 2. Purchased $6,800 of supplies on account. 3. A physical count on December 31, Year 1, found that there was $1,290 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. Req A Req B1 Inc Req B2 Bal Req B3 CF ReqC and D Stmt Sheet Stmt Record the events under an accounting equation. (Not all cells require input. Enter any decreases to account balances with a minus sign.) YARD PROFESSIONALS INC. Effect of Events on the Accounting Equation Assets = Liabilities Stockholders' Equity Event Accounts Cash Supplies Retained Payable Earnings 1. Provided service 2. Purchased supplies 3. Used supplies Totals = + + + + + Reg A Reg Bi Inc Stmt Rea B2 Bal Sheet Reg B3 CF Stmt Reg C and Prepare an income statement for the Year 1 accounting period. YARD PROFESSIONALS INC. Income Statement For the Year Ended December 31, Year 1