Homework Ch 4 Saved Help Save & Exit Ho Designs experienced the following events during Year 1, its first year of operation: 2 1. Started the business when it acquired $50,000 cash from the issue of common stock. 2. Pald $22,800 cash to purchase inventory. 3. Sold inventory costing S11,900 for $28,000 cash. 4. Physically counted inventory: had inventory of $7,200 on hand at the end of the accounting period. eBook Required a. Record the events in the T-accounts provided. b. Prepare an income statement and balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B IncRequired B Bal Stmt Sheet Prepare an income statement. HO DESIGNS Income Statement For the Year Ended December 31, Year 1 0 0 X Homework Ch 4 X connect.mheducation.com/flow/connect.html kCha N Saved Help S: Ho Designs experienced the following events during Year 1. its first year of operation 1. Started the business when it acquired $50.000 cash from the issue of common stock. 2. Paid $22.800 cash to purchase inventory 3. Sold inventory costing $11.900 for $28,000 cash. 4. Physically counted inventory. had inventory of $7.200 on hand at the end of the accounting period. Required a. Record the events in the T-accounts provided. b. Prepare an income statement and balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Inc Required B Bal Stmt Sheet Prepare an income statement. eBook 800 Required a. Record the events in the T-accounts provided. b. Prepare an income statement and balance sheet. Complete this question by entering your answers in the tabs below. Required A Required B Inc Required B Bal Stmt Sheet Prepare an income statement. HO DESIGNS Income Statement For the Year Ended December 31, Year 1 0 Required A Required B Bal Sheer >