Dakota Company experienced the following events during Year 2 Acquired $25.000 cash from the issue of common stock 2 Paid $10,000 cash to purchase land. 3. Borrowed $10.000 cash 4. Provided services for $35,000 cash 5. Paid $2.000 cash for utilities expense. 6 Paid $20.000 cash for other operating expenses 7. Paid a $4.000 cash dividend to the stockholders 8. Determined that the market value of the land purchased in Event 2 is now $15.000 Required a. The January 1 Year 2. general ledger account balances are shown in the following accounting equation Record the eshte the appropriate general ledger accounts Record the amounts of revenue expense and dividends in the Rundung Provide the appropriate titles for these accounts in the last column of the table. The first event is shown as a 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, --1. Determine the percentage of assets that were provided by retained earnings c-2. Can you determine the cash in retained earnings? The January 1, Year 2. general ledger account balances are shown in the following accounting equation Record the eight events in the propriate peneral ledger accounts. Record the amounts of revenue, expense, and dividends in the Retained Earnings column Provide the appropriate for these accounts in the last column of the table. The first event is shown as an example. Enter any decreases to cont balances with sign if there is no effect on the Account Titles for Retained Barnings, leave the cellank. Not all cells require input) Assets Event Cash DAKOTA COMPANY Accounting Equation for Year 2 Liabilities + Stockholders' Equity Land Notes Common Retained Payable Stock Earnings 10000 = 10,000 2.000 3,000 25.000 Account Titles for Retained Earnings Heg 5.000 25 000 1 2 + + 4 + . 4 + + + 5 - - 6 + + 7 B Totals 30.000 10 000 10 000 27.000+ 3,000