DolCor, Inc. is an accounting firm and began operations on January 1, 2022. The company used the cash basis of accounting to record the following transactions during its first month of operations: a. Received $500 in exchange for capital stock from owners. b. Received $6,000 cash on January 15 for services provided to customers. c. Purchased office equipment for $2,000 cash. d. Took out a cash loan with the bank for $8,000 to finance operations. e. Paid cash for operating expenses of $800. f. Paid a cash dividend of $500 to owners. Using the integrated spreadsheet format, determine which of the following statements is incorrect.