El-12 Dakota Company experienced the following events during 2018: 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 for other operating expenses. 7. Paid a $2,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $12700 (a) The January 1, 2018. general ledger account balances are shown in the following accounting equation Record the eight events in the appropriate general ledger account. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate title for these accounts in the last column of the table. [b) Prepare an income statement, statement of changes in equity, year-end balance sheet. and statement of cash flow for the 2018 accounting period. (c) Determine the percentage of assets that were provided by retained earrings. Round to three decimal places. How much cash is in the retained eamings account? fa) Account tities for RE Dakota Company Accounting Equation for 2018 Assets = Liabilities Stockholdes. Fauty Cash Notes Land Common Retained Payable Stock Eomings $2,000 $12,000 $0 $6,000 $8.000 30.000 30.000 12000 (12000) 10000 10000 20000 20000 revenue Balance 1/11/2018 1. Issue stock 2. Purchased land 3. Borrowed cash 4. Provided services 5. Paid utilities expense 6. Poid for operating expenses 7. Paid dividends 8. Mid value of land increased Expense (1000) -1000 expense (15000) -15000 dividend (2000) -2000 [b] Dakota Company Income Statement For the Year Ended December 31, 2018 20.000 Revenues Expenses 16000 Net Income 4000 Dakota Company Statement of Changes in Stockholders Equity For the Year Ended December 31, 2018 26 Practice HW Problems - Word 9 Tell me what you want to do T Normal 1 No Spac.. Heading 1 Heading 2 Title Find abc Replace Select Editing Create Ado Styles Dokote Company Balance Sheet At December 31, 2015 I Fant Paragraph 1 4 + Dakota Company Statement of Cash Flows For the Year Ending December 31, 2018 ic Te to search 0 1