You need to post the transactions for two years into the horizontal analysis. After that you need to prepare an income statement, changes in stockholder's equity, and balance sheet for each year.

Project #1
	Complete the horizontal analysis for 2017 and 2018 for each of the transactions presented.
	Prepare the Income Statement, Statement of Changes in Stockholder's Equity, and the Balance Sheet for each year.
Record each of the following transactions in the horizontal model.Then calculate the ending (12/31/17) balances.
1. Sterling Cooper Advertising Agency began operations in 2017. They acquired $60,000 in cash in exchange of common stock.
2. Performed advertising services, earning $30,000 on account and $10,000 in cash.
3. Purchased supplies on credit $500.
4. Paid operating expenses of $22,000.
5. Borrowed $25,000 from the bank by signing bank note (promise to repay)
6. Purchased land for $30,000 cash.
7. Collected $24,000 cash from amounts previously recorded in Accounts Receivable.
8. Supplies on hand at year end amounted to $200.