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Required information (The following information applies to the questions displayed beiow] Acom Service Company was formed on January 1, Year 1. Events Affecting the Year 1 Accounting Period 1. Acquired $69,000 cash from the issue of common stock. 2. Purchased $3,000 of supplies on account. 3. Purchased tand that cost $36,000 cash. 4. Paid $3,000 cash to settle accounts payable created in Event 2. 5. Recognized revenue on account of $60,000. 6. Poid $30,000 cash for other operoting expenses. 7. Collected $47,000 cash from accounts recelvable. Information for Year 1 Adjusting Entries 8. Recognized accrued salaries of $4,100 on December 31 , Year 1 . 9. Had $1,100 of supplles on hand at the end of the accounting period. Events Affecting the Year 2 Accounting Perlod 1. Acquired $29,000 cash from the issue of common stock: 2. Paid $4,100 cash to settle the salaries payable obligation. 3. Paid $6,300 cash in advance to lease office space. 4. Sold the land that cost $36,000 for $36,000 cash. 5. Recelved $7,500 cash in advance for services to be performed in the future. 6. Purchased $1,900 of supplies on account during the year. 7. Provided services on occount of $41,000. 8. Collected $42.000 cash from accounts recelvable. 9. Paid a cash dlvidend of $8.000 to the stockholders. 10. Paid other operating expenses of $28,500. Information for Year 2 Adjusting Entries 11. The advance payment for rental of the offlce space (see Event 3) was made on March 1 for a one-year term. 12. The cash advance for services to be provided in the future was collected on October 1 (see Event 5 ). The one-year contract started on October 1 . 13. Had $1,200 of supples remaining on hand at the end of the period. 14. Recognized accrued salaries of $4,800 at the end of the accounting period. 15. Recognized $1,300 of accrued interest revenue. b-1. Prepare an income statement for Year 1 and Year 2. b-2. Prepare the statement of changes in stockholders' equity for Year 1 and Year 2. b-3. Prepare the balance sheet for Year 1 and Year 2. Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 1 and Year 2. (Do not round intermediate calculations.) Prepare the balance sheet for Year 1 and Year 2. Complete this question by entering your answers in the tabs below. Prepare the statement of cash flows for Year 1 and Year 2, using the vertical model. (Cash outflows should be indicated with a minus sign.)

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