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

Purchased land for $$12,000$ cash.

Acquired $$39,000$ cash from the issue of common stock.

Received $$78,000$ cash for providing services to customers.

Paid cash operating expenses of $$40,600.$

Borrowed $$24,000$ cash from the bank.

Paid a $$12,000$ cash dividend to the stockholders.

Determined that the market value of the land purchased in event $1$ is $$49,000.$

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 $3?$