I need question B.

ITECTONIC Horizontal Statoments Model for Year 1 Balance Sheet Income Statement Revenue Expense N Assets Accounts Receivable Llabilities Accounts Payable Events Cash + Inventory Stockholders' Equity Common Retained Stock Earnings 60,000 + 1. Stock 60,000 + + 4 2. Pur inv. + + 11 11 MM 3. Freight + + + 4a. Sold inv. + + + 4b. Cost + 5. Pd. frt. + 6a. Ret. sale + + 6b. Ret. inv III MAALALA MIUI 7. Coll. AR + + + + + + 8. Pd. AP 1 + + 9. Pd. exp. 10 Pd. exp. LI + 11 End, bal. 60,000 + 0 + 0= 0 + 60,000 + 0. 0 0 CM 2 Check my ETOTUR Horizontal Statements Model for Year 1 Balance Sheet Liabilities Stockholders' Equity Accounts Common Inventory Retained Payable Stock Earnings 60,000 + 10 points Revenue Income Statement Expense = Net Income + + Statement of Cash Flow + eBook + - 60,000 Hint + FA Print + References + + + + + + + + + + + 0 0 60,000 + 0 0 0 = 0 60,000 Me Graw Hill Education MAR 10 2 The Pet Store experienced the following events for the Year 1 accounting period: pok 1. Acquired $60,000 cash from the issue of common stock. 2. Purchased $65,000 of inventory on account. 3. Received goods purchased in Event 2 FOB shipping point; freight cost of $900 paid in cash. 4. Sold inventory on account that cost $38,000 for $71,000. 5. Freight cost on the goods sold in Event 4 was $620. The goods were shipped FOB destination. Cash was paid fo 6. Customer in Event 4 returned $4,200 worth of goods that had a cost of $2,150. 7. Collected $58,300 cash from accounts receivable. 8. Paid $59,200 cash on accounts payable. 9. Paid $2,600 for advert/sing expense. 10. Paid $3,100 cash for insurance expense. Int Int ences Required a. Which of these events affect period (selling and administrative) costs? Which result in product costs? If neither, lab NA. Transaction Cost INA 2. Product Product b. Record each event in a horizontal statements model. The first event is recorded as an example. (In the Cash Flow column, us to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash, and NA to ind the element is not affected by the event. Enter any decreases to account balances and cash outflows with a minus sign.) k THE PET STORE Horizontal Statements Model for Year 1 - Balance Sheet 3 Income Statemen + Assets Revenue ces Events Expense Cash + Accounts Receivable Liabilities Accounts Payable Inventory Stockholders' Equity Common Retained Stock Earnings 60,000 + 1. Stock 60,000 + + 2. Pur inv. + + 3. Freight 4a. Sold inv. + + + + 4b. Cost 5. Pd. frt + + + + + + + + + + + + + + + + 6a. Ret. sale + 6b. Ret. iny AIA 7. Coll. AR + WAR 10 A