Majka Company was started on January 1, Year 1 During Year 1, the company experienced the following accounting events: () Issued 50,200 worth of common stock (2) earned cash revenues of $32,800, (3) paid cash expenses of $14,600, and (4) paid a $2,900 cash dividend to its stockholders. These were the only events that affected the company during Year 1. Required a. Record the effects of each accounting event under the appropriate general ledger account headings b. Prepare an income statement, statement of changes in stockholders' equity, and a balance sheet dated December 31, Year 1, for Majka Company Required A Required B Inc Required B Stmt of Required B Bal Stmt Changes Sheet Record the effects of each accounting event under the appropriate general ledger account headings. (E account balances with a minus sign.) MAJKA COMPANY Accounting Equation for Year 1 Liabilities Assets + Event Cash Stockholders' Equity Common Retained Stock Earnings II + Il + + 1. 2. 3. 11 + + 11 + + 11 + + 4. Ending balance 0 0 + 0 + 0 MAJKA COMPANY Income Statement For the Year Ended December 31, Year 1 0 CeMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 1 Beginning common stock $ 0 Ending common stock Beginning retained earnings 0 Ending retained earnings Total stockholders' equity $ 0 0 Balance Sheet As of December 31, Year 1 Assets $ 0 Total assets Liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity 0 $ 0