everything is right besides the NC for event five under the cash flows.

2 Part 1 of 4 The following information applies to the questions displayed below! The following events apply to Gulf Seafood for the Year 1 fiscal year 1. The company started when it acquired $17,000 cash by issuing common stock 2 Purchased a new cooktop that cost $15.900 cash 3. Earned $21,200 in cash revenue 4. Paid $11,300 cash for salaries expense 5. Adjusted the records to reflect the use of the cooktop. Purchased on January 1, Year 1, the cooktop has an expected useful life of four years and an estimated salvage value of $2700 Use straight line depreciation. The adjustment was made as of December 31, Year 1 15 points Book Exercise 8-7A (Algo) Porta Required a. Record the above transactions in a horizontal statements model (In the Statement of Cash Flows column, use the initials (OA), an investing activity (IA), o financing activity (FA) and net change in cash (NC). Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require input.) Deferences Event Statement of Cash Flows Not Income 1 GULF SEAFOOD Horizontal Statements Model Balance Sheet Income Statement Assets Stockholder's Equity Cash Equipment Common Retained Rovence Expense OVI Stock Earnings 17 000 17.000 (15.900 15.900 21.2001- . 21.200 21 200 (11.300) (11 300) 11,300 (3.300) 3,300 11 000 15.900 17.000 6,600 21200 14600 2 3 17.000 (15.900) 21.200 (11,300) FA OA NC 21.2001 (11.300 (3.300) 5,600 4 5 Bal 11000 Exercise 8-7A (Algo) Parto Required a. Record the above transactions in a horizontal statements model (In the Statement of Cosh Flows column, use the initials (OA), an Investing activity (IA), a financing activity (FA) and net change in cash (NC). Enter any decreases to account balances and cash outflows with a minus sign. Not all cells require input.) Income Statement Event Statement of Cash Flows Expense Not Income 1 GULF SEAFOOD Horizontal Statements Model Balance Sheet Assets Stockholder's Equity Cash Equipment Common Retained Revenue (BV) Stock Earnings 17.000+ 17,000 (15.900) 15,900 21 2001- 21,200 21.200 (11,300) + (11,300) + (3.300) 11,000 15 900 17,000 6,600 21,200 2 17.000 (15.900) 21,200 (11,300) FA 4 5 Bal 11,300 3.300 14.600 - 21200 (11,300) (3.300) 6.600 NGOM 11.000