Several events are listed below.
a. Common stock is issued to investors.
b. An agreement is signed with a janitorial service to provide cleaning services over the next 12 months.
c. Inventory is purchased.
d. A two-year insurance policy is purchased.
e. Inventory is sold to customers.
f. Two investors sell their common stock to another investor.

Required:
For each of the events, identify which ones qualify for recognition in the financial statements.
For events that do not qualify for recognition, explain your reasoning.