Better Corp. (BC) began operations on January 1, Year 1. During Year 1, BC experienced the following accounting events: 1. Acquired $7,000 cash from the issue of common stock 2. Borrowed $12,000 cash from the State Bank. 3. Collected $47,000 cash as a result of providing services to customers. 4. Paid $30,000 for operating expenses. 5. Paid an $8,000 cash dividend to the stockholders. 6. Paid $20,000 cash to purchase land. Required a. Record the events in an accounting equation like the one shown next. Record the amounts of revenue, expense, and dividends in the Retained Eamings column. Provide the appropriate titles for these accounts in the last column of the table. The first event is shown as an example. (Enter any decreases to account balances with a minus sign. Not all cells require input.) BETTER CORP Accounting Equation for Year 1 Assets Event Cash Landi Beg Bal 0+ 0 1 Issued stock B 2 Borrowed Loan Liabilities Notes Payable Common Stock Stockholders' Equity Retained Earnings 0+ 0+ 0 3. Provided Service 4. Paid operating expenses 5 Pald dividend 6 Land purchase Totals . Account Tiles for Retained Earnings b. As of December 31, Year 1, determine the total amount of assets, liabilities, and stockholders' equity and prepare a balance sheet Assets Liabilities Stockholders' Equity Assets BETTER CORP Balance Sheet As of December 31, Year 1 Total assets Liabilities Total Rabilities Stockholders' Equity Total stockholders equity Total liabilities and stockholders equity Next 26 c. What is the amount of total assets, liabilities, and stockholders' equity as of January 1, Year 2? Assets Liabilities Stockholders' Equity d. Assume that the land has a market value of $22,000 as of December 31, Year 1. At what amount will the land be shown on the December 31, Year 1, balance sheet? Amount