Ard Professionals Inc. experienced the following events in 2018, its first year of operation: Performed counseling services for $25,000 cash. Purchased $7,000 of supplies on account. A physical count on December 31, 2018, found that there was $1,500 of supplies on hand. Required Based on this information alone: Record the events under an accounting equation. Prepare an income statement, balance sheet, and statement of cash flows for the 2018 accounting period. What is the balance in the Supplies account as of January 1, 2019