Help Save & Eit Submit Chapter 2 Review Assignment Check my 2 The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period 1 Performed $64 500 of services for clients on account 2. Performed S41000 of services for cash. 3 Incurred $30,000 of other operating expenses on account 25 Paid $15,500 cash to an emplayee for salary 5 Collected $50,000 cash from accounts receivable Paid $16,000 cash on accounts payable. 7 Poid an $5,000 cash dvidend to the stockholders 3. Accrued salaries were $2.200 at the end of Year 1 a Show the effects of the events on the Snancial statements using a horizontal Snancial statements model like the following one. In the Statement of Cash Flows column, use QA to designate operating activity. lA for investment activity, FA for financing activity, NC for net change in cash and NA to indicate the element is not affected by the event. The fest event is recorded as an example. (Enter any decreases to account balances and cash outflows with a minus sign. in the Statement of Cash Flow column, select "NA"i there is no effect Horieental Financial Statement For Accounting Year 1