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Life, Inc., experienced the following events in 2016, its first year of operation: 1. Performed counseling services for $36,000 cash. 2. On February 1, 2016, paid $18,000 cash to rent office space for the coming year. 3.Adjusted the accounts to reflect the amount of rent used during the year. Required Based on this information alone a. Record the events under an accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances with a minus sign.) b. Prepare an income statement, balance sheet, and statement of cash flows for the 2016 accounting period. (Do not round intermediate calculations. Amounts to be deducted should be indicated with a minus sign.) \begin{tabular}{|l|l|l|} \hline \multicolumn{1}{|c|}{ LIFE, INC. } \\ \hline \multicolumn{1}{|c|}{ Balance Sheet } \\ \hline \multicolumn{1}{|c|}{ As of December 31, 2016} \\ \hline Assets & & \\ \hline & & \\ \hline & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline Stockholders' Equity & & \\ \hline & & \\ \hline Total stockholders' equity & \\ \hline Total liabilities and stockholders' equity & \\ \hline \end{tabular} c. Ignoring all other future events, what is the amount of rent expense that would be recognized in 2017 ? (Do not round intermediate calculations.)

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