Dakota Company experienced the following events during 2018:

1. Acquired $20,000 cash from the issue of common stock.

2. Paid $20,000 cash to purchase land.

3. Borrowed $5,000 cash.

4. Provided services for $40,000 cash.

5. Paid $1,000 cash for utilities expense.

6. Paid $20,000 cash for other operating expenses.

7. Paid a $5,000 cash dividend to the stockholders.

8. Determined that the market value of the land purchased in Event 2 is now $25,000.

Requirements:

a.) Find the Assets: Cash and Land Value and also find the Retained Earnings

b.) Determine the percentage of assets that were provided by retained earnings. Can you determine the cash in retained earnings?