Yard Professionals Incorporated experienced the following events in Year $1,$ its first year of operation:

Performed services for $$26,000$ cash.

Purchased $$4,800$ of supplies on account.

A physical count on December $31,$ Year $1,$ found that there was $$1,040$ 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 pe

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.

$\backslash$table$[[$Req A$,\backslash$table$[[$Req B$1],[$Income$],[$statement$]],\backslash$table$[[$Req B$2],[$Balance sheet$]],\backslash$table$[[$Req B$3],[$Statement of$],[$cash flows$]],$Req C and D$]]$

Record the events under an accounting equation.

Note: Not all cells require input. Enter any decreases to account balances with a minus sign.

$\backslash$table$[[$YARD PROFESSIONALS INCORPORATED$],[$Effect of Events on the Accounting Equation$],[$Event$,$Assets,$\backslash$table$[[=$