Dakota Company experienced the following events during Year 2: 1. Acquired $30,000 cash from the issue of common stock. 2. Paid $12,000 cash to purchase land. 3. Borrowed $10,000 cash. 4. Provided services for $20,000 cash. 5. Paid $1.000 cash for utilities expense. 6. Paid $15,000 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 $12,700. Required a. The January 1, Year 2, account balances are shown in the following accounting equation. Record the eight events in the appropriate accounts under an accounting equation. 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 Year 2 accounting period. b-2. Prepare a statement of changes in equity for the Year 2 accounting period. b-3. Prepare a year-end balance sheet for the Year 2 accounting period. b-4. Prepare a statement of cash flows for the Year 2 accounting period. c-1. Determine the percentage of assets that were provided by retained earnings, c-2. Does the retained earning balance reflect the amount of cash that the company has available to pay dividends? d. Based on the December 31. Year 2 balance sheet, what is the largest cash dividend Dakota could pay? Complete this question by entering your answers in the tabs below. ReqA Reg B1 Reg 02 Reg 83 Reg 34 Reg Cand D Retu Reg A Req B: Reg 02 Reg B3 Req B4 ReqC and D The January 1, Year 2, account balances are shown in the following accounting equation Record the eight events in the appropriate accounts under an accounting equation. 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. Not all cells require input.) Show less Assets Event DAKOTA COMPANY Accounting Equation for Year 2 Liabilities Stockholders' Equity Notes Common Retained Payable Stock Earnings 6,000 8,000 Cash Land Account Titles for Retained Earnings . 12.000 + Balance 1/1/Year 2 1 2 3 + 30,000 + 2,000 30.000 (12.000) 10,000 20.000 (1,000) (15000) (2.000) 10,000+ 4 + 5 6 20,000 Cash (1,000) Utos expense (15.000) Operating expense (2.000) Dividends + 7 B Totals 32.000 12,000 10,000 35,000 10.000 Req B1 > Answer is not complete. Complete this question by entering your answers in the tabs below. Req A Reg B1 Req B2 Req B3 Req B4 ReqC and D Prepare a statement of changes in equity for the Year 2 accounting period. DAKOTA COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 2 Beginning common stock 5,000 X Plus Common stock issued 25,000 Ending common stock S Beginning retained earnings $ 15,000 Plus: Net income 18,000 X Less Dividends (5,000) Ending retained earnings Total stockholders' equity $ 30,000 28,000 58 000 DAKOTA COMPANY Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities: 0 Net cash flow from operating activities Cash flows from investing activities Cash paid to purchase land Nel cash flow from investing activities Cash flows from financing activities 0 Net cash flow from financing activities 0 Ending cash balance 0