Please answer within the given format exactly

Use commas Please follow note provided in question,

provide explanation for all the 4 transaction

Please use commas and dollar sign in figures

Milo Clothing experienced the following events during Year 1, its rst year of operation: 1. Acquired $11,000 cash from the issue of common stock. 2. Purchased inventory for $5,400 cash. 3. Sold inventory costing $3,240 for $5,508 cash. 4. Paid $950 for advertising expense. Required: Record the events in a horizontal financial statements model. Note: In the Cash Flow column, use 0A to designate operating activity, IA for investment activity, FA for nancing activity, and NC for net change in cash. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells in the "Statement of Cash Flows" column may require an input - leave cells blank if there is no corresponding input needed