Please help me with this question During Yeor 1, Hardy Merchandising Compony purchased $40,000 of inverntory on account Hardy sold inwentory on account that cost$24,500 for $38,000. Cash payments on occounts payable were $22,000. There wos $26,000 cash collected from accountsreceivoble. Hardy also paid $5,100 cosh for operating expenses. Assume that Hardy started the occounting period with $20,000 inboth cash ond common stockRequireda Record the events in o horizontol stotement model. In the Cash Aow column, use OA to designate operating octivity, IA forinvestment acivity, FA for finoncing activity, or NC for net change in cosh. If the element is not offected by the event, leave the cellblonkb. Whot is the balonce of occounts receivoble at the end of Year 1?c Whot is the balance of occounts payable at the end of Year 1?d What are the amounts of gross margin and net income for Year 1?e Determine the omount of net cash flow from operating activities.Complete this question by entering your ånswers in the tabs below.Reg AReg B to ERecord the events in a horizontal statement model. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, or NC forcash. If the element is not affected by the event, leave the cell blank. (Not every cell will require entry. Enter any decreases to sccount balances and cash outflows with a minusHARDY MERCHANDISING COMPANYEffect of Events on the Financlal StatementsIncome StatementBalance Sheetstatement of CashFlows= Liablites+stockholders EquityNetAssetsAccountsRecelvableRetained Revenue - =EarningsEventExpensesCommonstockIncomeAccountsCash+ InventoryPayable20.000+20.000+Beg bal2a34.15End blReq B to E > SevedDuring Year 1, Hardy Merchandising Company purchased $40,000 of Irventory on account Hardy sold Inverntory on account that cost$24,500 for $38,000. Cash payments on accounts payable were $22,000. There was $26,000 cash collected from accountsrecelvable. Hardy also pald $5,100 cash for operating expenses. Assume that Hardy started the accounting perlod with $20,000 Inboth cash and common stockRequireda. Record the events In a horlzontal statement model. In the Cash Flow column, use OA to designate operating activity, IA forInvestment activity, FA for financing activty, or NC for net change In cash. If the element Is not affected by the event, leave the cellblank.b. What Is the balance of accounts recelvable at the end of Year 1?c What Is the balance of accounts payable at the end of Year 1?d. What are the amounts of gross margin and net Income for Year 1?e Determine the amount of net cash flow from operating activitles.Complete this question by entering your answers in the tabs below.Req AReq B to Ewhat is the balance of accounts receivable, accounts payable, amounts of gross margin, net income and net cashflow from operating activities at the end of Year 1? (Indicate cash outflows with mínus sign.)b. Accounts receivablec. Accounts payabled. Gross marginNet incomee. Net cash flow from operating activities< Req A

The fundamental equation of accounting is used for financial statement analysis.

a Record the events in o horizontal stotement model. In the Cash Row column, use OA to designate operating activity, IA for investment activity, FA for finoncing activity, or NC for net change in cosh. If the element is not offected by the event, leave the cell blonk b. Whot is the balonce of ocoounts receivoble at the end of Year 1? c Whot is the balance of ocoounts payable at the end of Year 1?