George began a business, and after collecting $5950 from an equity investor and borrowing $4850 from a bank, he purchased a piece of land for $7750. During the year, he leased the land to Sheila and received $3050 in cash. He paid $2450 cash for expenses during the year and paid an $900 dividend to the equity investor. Prepare a balance sheet for the period. Prepare a balance sheet for the period. George's Property Leasing Business Statement of Cash Flows For the First Year Cash flows from operating activities: Cash collections from customers $ Cash payments for expenses Net cash flow from operating activities $ Cash flows from investing activities: Purchase of land $ Net cash flow from investing activities $ Cash flows from financing activities: Proceeds from equity investor $ Proceeds from borrowing Cash payments for dividends Net cash flow from financing activities Increase in cash $ Beginning cash balance Ending cash balance $