This question has been opened in a new tab. In order to continue your assignment, please save your Excel question. 1.66 2 points eBook References The following transactions pertain to Year 1, the first year of operations of the Barlett Company. All inventory was started and completed during Year 1. Assume that all transactions are cash transactions. 1. Acquired $2,000 cash by issuing common stock. 2. Paid $400 for materials used to produce inventory. 3. Paid $600 to production workers. 4. Paid $200 rental fee for production equipment. 5. Paid $160 to administrative employees. 6. Paid $80 rental fee for administrative office equipment. 7. Produced 300 units of inventory of which 200 units were sold at a price of $7.00 each. Required Complete the income statement and balance sheet shown. Navigation 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect