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

Performed services for $$18,000$ cash.

$?$urchased $$6,400$ of supplies on account.

A physical count on December $31,$ Year $1,$ found that there was $$1,270$ 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 hat$(i)$ 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 $2?$