Prepare a balance sheet for Year 1 . Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 1. Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for Year 1. Show the effects of the events on the financial statemeats using a horizontal statements model like the following one. In the Cash Flow column, use OA to dess investment activity, FA for finanding activity, and NC for net-change in cash. The first event is recorded as an examigle. Note: Enter any decreasos to account balances and cash outflows with a minus sign. Note: Enter cash outflows with a minus sign. Prepare a balance sheet for Year 1 . Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 1. Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for Year 1. Show the effects of the events on the financial statemeats using a horizontal statements model like the following one. In the Cash Flow column, use OA to dess investment activity, FA for finanding activity, and NC for net-change in cash. The first event is recorded as an examigle. Note: Enter any decreasos to account balances and cash outflows with a minus sign. Note: Enter cash outflows with a minus sign