Majka Company was started on January $1,2016.$ During $2016,$ the company experienced the following three accounting events: $(1)$ earned cash revenues of $$32,500,(2)$ paid cash expenses of $$14,500,$ and $(3)$ paid a $$2,800$ cash dividend to its stockholders.These were the only events that affected the company during $2016.$Requireda. Record the effects of each accounting event under the appropriate general ledger account headings. $($Enter any decreases to account balances with a minus sign.$)$MAJKA COMPANYAccounting Equation for $2016$AssetsLiabilitiesStockholders' EquityEventCashCommonStockRetained EarningsEnding balanceb. Prepare an income statement, statement of changes in stockholders' equity, and a balance sheet dated December $31,2016,$ for Majka Company.MAJKA COMPANYIncome StatementFor the Year Ended December $31,2016$