The following events apply to Lewis and Harper, a public accounting firm, for the Year 1 accounting period:

a. Performed $70,000 of services for clients on account.
b. Performed $40,000 of services for cash.
c. Incurred $36,000 of other operating expenses on account.
d. Paid $10,000 cash to an employee for salary.
e. Collected $47,000 cash from accounts receivable.
f. Paid $16,000 cash on accounts payable.
g. Paid a $8,000 cash dividend to the stockholders.
h. Accrued salaries were $2,000 at the end of Year 1.

Required
Show the effects of the events on the financial statements using a horizontal statements model.