Yard Professionals Incorporated experienced the following events in Year 1, its first year of operation: 1. Performed services for $28,000 cash. 2. Purchased $7,400 of supplies on account 3. A physical count on December 31, Year 1, found that there was $1,520 of supplies on hand. Required Based on this information alone a. Record the events in general ledger accounts 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. Cash Flows Reg C and D Reg B Inc Reg B Bal Reg B Stmt of ReqA Stent Sheet Record the events in general ledger accounts under an accounting equation (Enter any decreases to account balances with a minus sign.) Req A Req B Inc Stmt Req B Bal Sheet Req B Stmt of Cash Flows Req C and D Record the events in general ledger accounts under an accounting equation. (Enter any de minus sign.) YARD PROFESSIONALS INC. Effect of Events on the Accounting Equation Assets Liabilities + Event Stockholders' Equity Retained Earnings Cash Supplies 11 Accounts Payable + II 11 1. Provided service 2. Purchased supplies 3. Used supplies Totals + 1111 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 B Inc Stmt Req B Bal Sheet Req B Stmt of Cash Flows Req 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 competens question wy emery your answer "LE LAUS Veluw. Req A Req B Inc Stmt Reg B Bal Sheet Req B Stmt of Cash Flows Reg C and D Prepare a balance sheet for the Year 1 accounting period. YARD PROFESSIONALS INC. Balace Sheet As of December 31, Year 1 Assets Total assets Liabilities Total liabilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Complete this question by entering your answers in the tabs below. Req A Req B Stmt of Req B Inc Stmt Req B Bal Sheet Cash Flows Reg C and D What is the balance in the Supplies account and Supplies Expense account as of January 1, Year 2? C. Supplies d. Supplies expense