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The following events apply to Paradise Vacations's first year of operations: 1. Acquired $29,000 cash from the issue of common stock on January 1, Year 1 . 2. Purchased $1,250 of supplies on account. 3. Paid $5,280 cash in advance for a one-year lease on office space. 4. Earned $37,350 of revenue on account. 5. Incurred $13,850 of other operating expenses on account. 6. Collected $28,500 cash from accounts receivable. 7. Paid $9,450 cash on accounts payable. 8. Paid a $3,900 cash dividend to the stockholders. Information for Adjusting Entries 9. There was $240 of supplies on hand at the end of the accounting period. 0 . The lease on the office space covered a one-year period beginning November 1. 11. There was $4,500 of accrued salaries at the end of the period. Required a. Record these transactions in general journal form. b. Post the transaction data from the journal to ledger T-accounts. c. Prepare a trial balance. d-1. Prepare an income statement. d-2. Prepare a statement of changes in stockholders' equity. d-3. Prepare a balance sheet. d-4. Prepare a statement of cash flows. Prepare a statement of cash flows. (Cash outflows should be indicated \begin{tabular}{|l|r|r|} \hline \multicolumn{2}{|c|}{ PARADISE VACATIONS } \\ \hline \multicolumn{2}{|c|}{ Statement of Cash Flows } \\ \hline Cash flows from operating activities & \\ \hline Inflow from customers & & \\ \hline Outflow for expenses & & \\ \hline & & \\ \hline Net cash flow from operating activities & & \\ \hline Cash flows from investing activities & & \\ \hline Cash flows from financing activities & & \\ \hline Inflow from stock issue & 29,000 & \\ \hline Outflow for dividends & (3,900) & \\ \hline & & \\ \hline Net cash flow from financing activities & & \\ \hline Net change in cash & & \\ \hline Add: Beginning cash ballance & & \\ \hline Ending cash balance & & \\ \hline \end{tabular}

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