d-4. Propare a statement of cash fiows for Year 1 (Enter any decreases to account balances and cash outllows with a minus sign.) Required information [The following information applies to the questions displayed below.] Colton Enterprises experienced the following events for Year 1, the first year of operation: 1. Acquired $43 , 000 cash from the issue of common stock. 2. Paid $12 , 800 cash in advance for rent. The payment was for the period April 1, Year 1, to March 31 , Year 2. 3. Performed services for customers on account for $88 , 000 . 4. Incurred operating expenses on account of $39 , 000 . 5. Collected $67 , 500 cash from accounts receivable. 6. Paid $29 , 000 cash for salary expense. 7. Paid $31 , 200 cash as a partial payment on accounts payable. Adjusting Entries 8. Made the adjusting entry for the expired rent. (See Event 2.) 9. Recorded $4 , 000 of accrued salaries at the end of Year 1. .