Dakota Company experienced the following events during 2018: 1. Acquired $25,000 cash from the issue of common stock. 2. Pald $25,000 cash to purchase land. 3. Borrowed $10,000 cash, 4. Provided services for $36,000 cash 5. Pald $1,000 cash for utilities expense. 6. Paid $28,000 cash for other operating expenses. 7. Pald a $2,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $27,500 Required a. The January 1, 2018, general ledger account balances are shown in the following accounting equation Record the eight events in the appropriate general ledger accounts. 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. The first event is shown as an example b-1. Prepare an income statement for the 2018 accounting period. b-2. Prepare a statement of changes in equity for the 2018 accounting period. b-3. Prepare a year-end balance sheet for the 2018 accounting period. b-4. Prepare a statement of cash flows for the 2018 accounting period. c. Determine the percentage of assets that were provided by retained earnings. Can you determine the cash in retained earnings? Eignment Saved HE b-1. Prepare an income statement for the 2018 accounting period. b-2. Prepare a statement of changes in equity for the 2018 accounting period. b-3. Prepare a year-end balance sheet for the 2018 accounting period. b-4. Prepare a statement of cash flows for the 2018 accounting period. c. Determine the percentage of assets that were provided by retained earnings. Can you determine the cash in retained earnings? Complete this question by entering your answers in the tabs below. Req A Req B1 Reg B2 Reg B3 Reg 14 Regc Prepare an income statement for the 2018 accounting period. DAKOTA COMPANY Income Statement For the Year Ended December 31, 2018 Accounts receivable $ 25,000 Cash 25,000 Dividends 10,000 Net Income Complete this question by entering your answers in t Req A Req B1 Req B2 Req B3 Prepare a statement of changes in equity for the 2018 accou DAKOTA COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2018 Beginning common stock $ 0 Ending common stock Beginning retained earnings 0 Ending retained earnings Total stockholders' equity $ 0 tering your answers in the tabs below. Req A Req B1 Req B2 Req B3 Req B4 Reqc Prepare a year-end balance sheet for the 2018 accounting period. DAKOTA COMPANY Balance Sheet As of December 31, 2018 Assets Total assets Liabilities $ $ 0 Total liabilities Stockholders' Equity $ 0 Total stockholders' equity Total liabilities and stockholders' equity 0 $ DAKOTA COMPANY Statement of Cash Flows For the Year Ended December 31, 2018 Cash flows from operating activities: $ 0 Net cash flow from operating activities Cash flows from investing activities: 0 Net cash flow from investing activities Cash flows from financing activities: Net cash flow from financing activities 0 Ending cash balance $