Complete the horizontal analysis for 2017 and 2018 for each of the transactions presented.
	Prepare the Income Statement, Statement of Changes in Stockholder's Equity, and the Balance Sheet for each year.
Record each of the following transactions in the horizontal model below. Then calculate the ending (12/31/17) balances.
1. Sterling Cooper Advertising Agency began operations in 2017. They acquired $60,000 in cash in exchange of common stock.
2. Performed advertising services, earning $30,000 on account and $10,000 in cash.
3. Purchased supplies on credit $500.
4. Paid operating expenses of $22,000.
5. Borrowed $25,000 from the bank by signing bank note (promise to repay)
6. Purchased land for $30,000 cash.
7. Collected $24,000 cash from amounts previously recorded in Accounts Receivable.
8. Supplies on hand at year end amounted to $200.

Project #1 | Complete the horizontal analysis for 2017 and 2018 for each of the transactions presentod. |Prepare the Income Statement, Statement of Changes in Stockholder's Equity, and the Balance Sheet for each year. Record each of the following transactions in the horizontal model below. Then calculate the ending (12/31/17) balances. 60,000 in cash in exchange of common stock Desa ies se NCRI 30 0r0 cacrount snd (10 000 in Cash 3. Purchased supplies on credit $500. 5. Borrowed $25.000 from the bank by signing bank note (promise to 330,00 cash 7 f spreviously recorded in Accounts Receivable 8. Supplies on hand at wear damounted to 5 Year 1 Stockholder's Equity Common Stock Ass ets Liabilities A/P Revenue Expense Net Income Defered Revenuue Notes Payable Retained Earnings Supplies Prepaid Rent Land Cash A/R n Beaingiea 8 Ending Stockholder's Equty Income Statement Balance Sheet the transactions in the horizontal model below and caloulate the (12/31/18) ending balances. Sterling Cooper, Inc. had the following tranactors ug Paid operating epenses of $24.000 2. 5, Paid $400 of A/P eia fos d aamed $4 cn0 of t e$5 000 received in transaction 8. Hint: Adiust the Prepaid Rent account Year 2 Stockholder's Equity Common Stock Liabilities Net Income Assets Cash Revenue Expense Supplies Defemred Revenue Retained Earnings Prepaid Rent Notes Payable Lane n Endine Stockholder's Equty Income Statement Balance Sheet