Help Save &ExitSubmi Check my work The Pet Store experienced the following events for the 2018 accounting period: 1. Acquired $95,000 cash from the issue of common stock 2. Purchased $84,000 of inventory on account. 3. Received goods purchase d in Event 2 FOB shipping point, freight cost of $1,050 paid in cash. 4. Sold inventory on account that cost $42,000 for $79,000. 5. Freight cost on the goods sold in Event 4 was $1.360. The goods were shipped FOB destination. Cash was 6. Customer in Event 4 returned $5,320 worth of goods that had a cost of $2.710. 7. Collected $64,780 cash from accounts receivable. 8. Paid $63,.200 cash on accounts payable. 9. Paid $2,690 for advertising expense. o. Paid $4,090 cash for insurance expense. Required a. Which of these events affect period (selling and administrative) costs? Which result in product costs? If neither, label the transaction b. Record the above events in a horizontal statement model. In the Cash Flow column, use OA to designate operating activity, IA for NA. investment activity, FA for financing activity, NC for net change in cash and NA to indicate the element is pot affected by the event. The beginning balances have been recorded as an example. Complete this question by entering your answers in the tabs below Lr 2