Performed counseling services for $$29,200$ cash.

On February $1,$ Year $1,$ paid $$20,400$ cash to rent office space for the coming year.

Adjusted the accounts to reflect the amount of rent used during the year.

Required

Based on this information alone:

a$.$ Record the events in general ledger accounts under an accounting equation.

b$.$ Prepare an income statement, balance sheet, and statement of cash flows for the Year $1$ accounting period.

c$.$ Ignoring all other future events, what is the amount of rent expense that would be recognized in Year $2?$

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[$Req $A,\backslash$table$[[$Req B Inc$],[$Stmt$]],\backslash$table$[[$Req B Bal$],[$Sheet$]],\backslash$table$[[$Req B Stmt of$],[$Cash Flows$]],$Req C$]]$

Record the events in general ledger accounts under an accounting equation. $($Do not round intermediate calculations. Enter any decreases to account balances with a minus sign.$)$

$\backslash$table$[[$LIFE$,$ INC.$],[$Effect of Events on the Accounting Equation$],[,$Event,Assets,$\backslash$table$[[=$