I just need part D answered, Based on the December 31, Year 2, balance sheet, what is the largest cash dividend Dakota could pay?

Exercise 1-23A Preparing financial statements LO 1-5, 1-6, 1-7, 1-8, 1-9 Dakota Company experienced the following events during Year 2. 1. Acquired $15,000 cash from the issue of common stock. 2. Paid $15,000 cash to purchase land. 3. Borrowed $5,000 cash. 4. Provided services for $55,000 cash 5. Paid $2,000 cash for utilities expense. 6. Paid $45,000 cash for other operating expenses. 7. Paid a $1,000 cash dividend to the stockholders. 8. Determined that the market value of the land purchased in Event 2 is now $16,000. Required a. The January 1, Year 2. general ledger account balances are shown in the following accounting equa the appropriate general ledger accounts. Record the amounts of revenue, expense, and dividends in Provide the appropriate titles for these accounts in the last column of the table. The first event is show decreases to account balances with a minus sign. Not all cells in the "Accounts Titles for Retained to search O DELL be pitsc FVO F2 F5 F4 F5 F7 F9 FB $ % A & 2 3 4 5 6 7 8 9 W E R. T T Y Y TU Assets DAKOTA COMPANY Accounting Equation for Year 2 Liabilities Stockholders' Equity Land Notes Common Retained + Payable Stock Earnings 10,000 10,000 10,000 4,500 Event Account Titles for Retained Earnings Cash + = - 14,500 + . + Balance 1/1/Year 2 1 + 15,000 + 15,000 - + 2 3 4 5.000 + 15,000 (15,000) 5,000 55,000 (2,000): (45,000) (1,000) 5. + - 55,000 Service revenue (2.000) Utilities expense (45,000 Operating expense (1,000) Dividends OOOO OOO + 6 + + 7. 8. Totals 26.500 25,000 15.000 25.000 + 11,500 Search O BI DELL SE thome rest de FG t e 2 $ 4 % 5 & 7 8 9 0 3 6 0 P W E R Y U T s D G F H J > C V B M N b-1. Prepare an income statement for the Year 2 accou Answer is complete and correct. DAKOTA COMPANY Income Statement For the Year Ended December 31, Year 2 Service revenue $ 55,000 Operating expense 45,000 Utilities expense 2,000 Net income $ 8,000 h-2 Drenare a ctatement of changes in aritu fartha Vaar Co search ORI DELL TOR pits DN FA D 52 F5 F6 F7 # A $ % & 7 3 2 4 5 6 9 6 8 W E R T O Y U