Carolina Company experienced the following events during 2014. 1/1/2014 Cash $5,000 Land $15,000 Common Stock $5,000 Retained earnings $15,000

1.	Acquired $25,000 in cash from the common stock issue.
2.	He paid $20,000 in cash to buy land.
3.	He lent $20,000 in cash.
4.	Services rendered for $60,000 in cash.
5.	He paid $2,000 in cash for rent.
6.	Paid $40,000 in cash for other operating expenses.
7.	It paid a cash dividend of $5,000 to shareholders.
8.	You determined that the market value of the land purchased in Event 2 is now $25,000.

Required

a.

General ledger account balances as of January 1, 2014 are shown in the following accounting equation. Record all eight events in the appropriate general ledger accounts. Record the amounts of income, expenses, and dividends in the Retained Earnings 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 decrease in account balances with a minus sign. Select "NA" if there is no effect on "Account Titles for Retained Earnings".)

b-1.	Prepare an income statement for the 2014 accounting period.

b-2.	Prepare a statement of changes in equity for the 2014 accounting period.

b-3.	Prepare a year-end balance sheet for the 2014 accounting period.

b-4.	Prepare a statement of cash flows for the 2014 accounting period. (Amounts to be deducted should be indicated with a minus sign.)

c-1.	Determine the percentage of assets that were provided by retained earnings. (Round your answer to 1 decimal place. (ie .234 should be entered as 23.4).)