Dakota Company experienced the following events during 2018: 1. Acquired $15,000 cash from the issue of common stock. 2. Paid $15,000 cash to purchase land. 3. Borrowed $5,000 cash. 4. Provided services for $55,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Pald $45,000 cash for other operating expenses. 7. Paid a $1,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $16,000. 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? Complete this question by entering your answers in the tabs below. Ren A Ren R1 Ren R2 Ren R3 Ren R4 Ren C Req B4 Req C Req B3 Req B2 Req B1 Req 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. (Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Account Titles for Retained Earnings".) Show lessA DAKOTA COMPANY Accounting Equation for 2018 Stockholders' Equity Common Assets Liabilities Account Titles for Retained Earnings Event Notes Retained Land Cash Earnings Payable Stock Bal. 1/1/2018 10,000 10,000 10,000 14,500 4,500 15,000 NA 15,000 1. 4 2 3 4. 5 6 7 8. 29.500 10,000 25,000 4,500 Totals 10,000 Bea 81 www Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Req B3 Req B4 Req C Prepare an income statement for the 2018 accounting period. DAKOTA COMPANY Income Statement For the Year Ended December 31, 2018 es Req A Req B2 Complete this question by entering your answers in the tabs below. Req A Req B1 Req B2 Req B3 Req B4 Req C Prepare a statement of changes in equity for the 2018 accounting period. DAKOTA COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, 2018 Beginning common stock Ending common stock Beginning retained earnings 0 Ending retained earnings Total stockholders' equity 0 0 Req B1 Req B3 Complete this question by entering your answers in the tabs below. Req B2 Req A Req B1 Req B3 Req B4 Req C Prepare a year-end balance sheet for the 2018 accounting period. DAKOTA COMPANY Balance Sheet As of December 31, 2018 Assets ces $ Total assets 0 Liabilities Total liabilities Stockholders' Equity Total stockholders' equity 0 Total liabilities and stockholders' equity 0 4 of 5 Next>