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asap Milo Clothing experienced the following events during Yeat 1 , its first year...

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Accounting

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Milo Clothing experienced the following events during Yeat 1 , its first year of operation: 1. Acquired $10,500 cash from the issue of common stock. 2. Purchased inventory for $7,000 cash. 3. Sold inventory costing $4,200 for $7,140 cash. 4. Paid $800 for advertising expense. Required: Record the cvents in a horizontal financlal statements model. Note: In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, and NC for net change in eash. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells in the "Statement of Cash Flows" column may require an input - leave cells blank if there is no corresponding input needed

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