2 4 points Skipped Gook Hint References Dan Watson started a small merchandising business in Year 1. The business experienced the following events during its first year of operation. Assume that Watson uses the perpetual inventory system. 1. Acquired $35,000 cash from the issue of common stock. 2. Purchased inventory for $28,000 cash. 3. Sold inventory costing $15,300 for $30,000 cash. Required a. Record the events in general journal format. b. Post the entries to T-accounts. c. Determine the amount of gross margin. d. What is the amount of net cash flow from operating activities for Year 1? Complete this question by entering your answers in the tabs below. Help Save & Exit Submit Required A Required B Required C Required D Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Check my work 4 points pped account field.) View transaction list Jual format. (it no entry is required for a transaction/event, select "No journal entry required" in the first Journal entry worksheet Book References Mc Graw Hill D Record entry for issuance of common stock. Note: Enter debits before credits. Event 1. General Journal Debit Credit Record entry Clear entry View general journal < Prev 2 of 6 Next 2 Required A Required B Required C Required D points Skipped Post the entries to T-accounts. Cash look Him References Beg Bal Common Stock Beg. Bal End. Bal End Bal Inventory Sales Revenue Beg Bal Beg. Bal End. Bal. 0 End. Bal Cost of Goods Sold Beg. Bal. End. Bal fuck my work its Skipped d. What is the amount of net cash flow from operating activities for Year 1? Complete this question by entering your answers in the tabs below. Book Required A Hint Required B Required C Required D erences Determine the amount of gross margin. DAN WATSON MERCHANDISING Income Statement For the Year Ended December 31, Year 1 < Required B Required D > Skipped eBook b. Post the entries to T-accounts. c. Determine the amount of gross margin. d. What is the amount of net cash flow from operating activities for Year 1? Hint Complete this question by entering your answers in the tabs below. References Required A Required B Required C Required D What is the amount of net cash flow from operating activities for Year 1? (Indicate cash outflows with minus sign.) Net cash flow from operating activities