2 At the beginning of Year 2, Better Corp's accounting equation showed the following accounts and balances: BETTER CORP. Accounting Equation 20 points Skoped Accounting Titles Event Assets Cash Land Liabilities + Notes Payable Stockholders' Equity Common Stock for Retained Earnings Retained Balance 1/1/Year 2 17.000 27,000 12,700 7.700 Earnings 23,600 elook Prot References Better Corp. completed the following transactions during Year 2: 1. Purchased land for $8,500 cash. 2. Acquired $32,000 cash from the issue of common stock. 3. Received $71,000 cash for providing services to customers. 4. Paid cash operating expenses of $41,300. 5. Borrowed $17,000 cash from the bank. 6. Paid a $8,500 cash dividend to the stockholders. 7. Determined that the market value of the land purchased in event 1 is $42,000. Required a. Record the transactions in the accounting equation for Year 2. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate titles for these accounts in the last column of the table. b. As of December 31, Year 2, determine the total amount of assets, liabilities, and stockholders' equity and present this information in the form of an accounting equation c. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, Year 3? Complete this question by entering your answers in the tabs below. Req A Req Band C Record the transactions in the accounting equation for Year 2. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate titles for these accounts in the last column of the table. (Enter any decreases to account balances with a minus sign. If there is no effect on the Accounts Titles for Retained Earnings, leave the cell blank. Not all cells require input.) Event Accounting Equation Accounting Equation for Year 2 Show less 1/1/Year 2 17,000 27,000 12,700 1,700 23,6001 Better Corp. completed the following transactions during Year 2: 1. Purchased land for $8,500 cash. 2. Acquired $32,000 cash from the issue of common stock. 3. Received $71,000 cash for providing services to customers. 4. Paid cash operating expenses of $41,300. 5. Borrowed $17,000 cash from the bank. 6. Paid a $8,500 cash dividend to the stockholders. 7. Determined that the market value of the land purchased in event 1 is $42,000. Required a. Record the transactions in the accounting equation for Year 2. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate titles for these accounts in the last column of the table. b. As of December 31, Year 2, determine the total amount of assets, liabilities, and stockholders' equity and present this informatic the form of an accounting equation. c. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, Year 3? Complete this question by entering your answers in the tabs below. Req A Req B and C As of December 31, Year 2, determine the total amount of assets, liabilities, and stockholders' equity and present this information in the form of an accounting equation. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, Year 3? b. C. Assets Liabilities Stockholders' Equity