Dakota Company experienced the following events during Year $2.$

Acquired $$10,000$ cash from the issue of common stock:

Paid $$10,000$ cash to purchase land.

Borrowed $$10,000$ cash.

Provided services for $$25,000$ cash.

Paid $$1,500$ cash for utilities expense.

Paid $$15,000$ cash for other operating expenses.

Paid a $$3,000$ cash dividend to the stockholders.

Determined that the market value of the land purchased in Event $2$ is now $$12,500.$