At the beginning of Year $2,$ Better Corporation$$s accounting equation showed the following accounts and balances:

BETTER CORPORATION

Accounting Equation

Event Assets $=$ Liabilities $+$ Stockholders$$ Equity Account Titles for Retained Earnings

Cash Land Notes Payable Common Stock Retained Earnings

Balance $1/1/$Year $2$ : $20,00030,00013,0008,00029,000$

Better Corporation completed the following transactions during Year $2$:

Purchased land for $$10,000$ cash.

Acquired $$35,000$ cash from the issue of common stock.

Received $$74,000$ cash for providing services to customers.

Paid cash operating expenses of $$41,000.$

Borrowed $$20,000$ cash from the bank.

Paid a $$10,000$ cash dividend to the stockholders.

Determined that the market value of the land purchased in event $1$ is $$45,000.$

Required

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.

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 $3?$Req A

Req B and C

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 $3?$