FINANCIAL STATEMENTS Using the following template, please show how the above arrangements impacted Diversified's Statement of Cash Flows, Income Statement, and Balance Sheet for the first quarter of 20Y1. For the Balance Sheet, indicate cumulative changes to the Balance Sheet as a result of this transaction. These amounts will not necessarily equal the ending balances in the Balance Sheet accounts. Some lines might not have answers. List account names or transaction descriptions in the first column and amounts in the other columns. Assume all transactions are for cash unless told otherwise. STATEMENT OF CASH FLOWS ARRANGEMENT A ARRANGEMENT B Net Change in Cash Flow INCOME STATEMENT ARRANGEMENT A ARRANGEMENT B Gross Profit Net Income BALANCE SHEET ARRANGEMENT A ARRANGEMENT B Cash Super Soaker Inventory Change in Assets Changes in Liabilities & Equity CHAPTER 18 IN-CLASS ACTIVITY-REVENUE RECOGNITION | PAGE 2