Weib manufacturing experienced the following events during its first accounting period1. recognized revenue from cash sale of products2. recognized cost of goods sold from sale referenced in event 13. acquired cash by issuing common stock.4. paid cash to purchase raw materials that were used to make products5. paid wages to production workers6. paid salaries to administrative staff7. recognized depreciation on manufacturing equipment.8. recognized depreciation on office furnitureuse the following horizontal financial statements model to show how each event affects the gaap-based balance sheet and income statement. indicate whether the event increases (a), decreases (d), or has no effect (na) on each element of the financial statements. event no. cash + inventory + manuf. equip. + office furn. = common stock + ret. earn. revenue - expenses = net income