The following events apply to Brown and Birgin, a public accounting firm, for the 2013 accounting period: 

1. Performed $96,000 of services for clients on account. 
2. Performed $65,000 of services for cash. 
3. Incurred $45,000 of other operating expenses on account. 
4. Paid $26,000 cash to an employee for salary. 
5. Collected $70,000 cash from accounts receivable. 
6. Paid $38,000 cash on accounts payable. 
7. Paid a $10,000 cash dividend to the stockholders. 
8. Accrued salaries were $3,000 at the end of 2013.

Required:

a. Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, and NC for net change in cash. Use NA to indicate the element is not affected by the event. The first event is recorded as an example.

b. What is the amount of total assets at the end of 2013? 
c. What is the balance of accounts receivable at the end of 2013? 
d. What is the balance of accounts payable at the end of 2013? 
e. What is the difference between accounts receivable and accounts payable? 
f. What is net income for 2013? 
g. What is the amount of net cash flow from operating activities for 2013?