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Yard Professionals Incorporated experienced the following events in Year 1, its first year of operation:...

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Accounting

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Yard Professionals Incorporated experienced the following events in Year 1, its first year of operation: 1. Performed services for $19,500 cash. 2. Purchased $6,600 of supplies on account. 3. A physical count on December 31 , Year 1 , found that there was $1,280 of supplies on hand. Required: Based on this information alone: a. Record the events in accounts under an accounting equation. Note: Enter any decreases to account balances with a minus sign. b. Prepare an income statement, balance sheet, and statement of cash flows for the Year 1 accounting period. Note: In statement of cash flows, cash outflows should be indicated with a minus sign. c. What is the balance in the Supplies account as of January 1, Year 2

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