At the beginning of Year 2, Better Corporation's accounting records had the following general ledger accounts and balances. Event Beginning Balance 01/01/Year 2 BETTER CORPORATION Accounting Equation Assets Liabilities + Cash Land Notes Payable 22,000 32,000 13,200 Better Corporation completed the following transactions during Year 2: 1. Purchased land for $11,000 cash. 2. Acquired $37,000 cash from the issue of common stock. 3. Received $76,000 cash for providing services to customers. 4. Paid cash operating expenses of $40,800. 5. Borrowed $22,000 cash from the bank. 6. Paid a $11,000 cash dividend to the stockholders. 7. Determined that the market value of the land purchased in event 1 is $47,000. Stockholders' Equity Common Stock Retained Earnings 8,200 32,600 Accounts Titles for Retained Earnings