Grimes Corporation reports the following cash transactions for the year ending December 31,2015 , its first year of operation: 1) Issued common stock for $35,000 2) Borrowed $25,000 from a local bank 3) Purchased land for $40,000 4) Provided services to clients for $38,000 5) Paid operating expenses of $30,500 6) Paid $2,000 cash dividends to stockholders