Exercise 1-19A (Algo) Preparing financial statements LO 1-3, 1-4, 1-5, 1-6, 1-7, 1-8 Dakota Company experienced the following events during Year 2 1. Acquired $25,000 cash from the issue of common stock. 2. Paid $20,000 cash to purchase land. 3. Borrowed $20,000 cash. 4. Provided services for $60,000 cash. 5. Paid $2,000 cash for utilities expense. 6. Paid $40,000 cash for other operating expenses. 7. Paid a $5,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $25,000. Required a. The January 1, Year 2, general ledger account balances are shown in the following accounting equation. Record the eight events in the appropriate general ledger accounts. 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. Can you determine the cash in retained earnings? Complete this question by entering your answers in the tabs below. The January 1, Year 2, general ledger account balances are shown in the following accounting equation. Record the eight events in the appropriate general ledger accounts. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate titles for these account in the last column of the table. The first event is shown as an example. Note: Enter any decreases to account balances with a minus sign. If there is no effect on the Account Titles for Retained Earnings, leave the cell blank. Not all cells require input. Complete this question by entering your answers in the tabs below. The January 1, Year 2, general ledger account balances are shown in the following accounting equation. Record the eight events in the appropriate general ledger accounts. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate titles for these account in the last column of the table. The first event is shown as an example. Note: Enter any decreases to account balances with a minus sign. If there is no effect on the Account Titles for Retained Earnings, leave the cell blank. No all cells require input. Complete this question by entering your answers in the tabs below. Prepare an income statement for the Year 2 accounting period. Complete this question by entering your answers in the tabs below. Prepare a statement of changes in equity for the Year 2 accounting period. Complete this question by entering your answers in the tabs below. Prepare a year-end balance sheet for the Year 2 accounting period. Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for the Year 2 accounting period. Note: Cash outflows should be indicated with a minus sign. Complete this question by entering your answers in the tabs below. Determine the percentage of assets that were provided by retained earnings. Note: Round your percentage answer to 1 decimal place. Complete this question by entering your answers in the tabs below. Can you determine the cash in retained earnings? Can you determine the cash in retained earnings