Mark's Consulting experienced the following transactions for 2016, its first year of operations, and 2017. Assume that all transactions involve the receipt or payment of cash. Transactions for 2016 1. Acquired $80,000 by issuing common stock. 2. Received $130,000 for providing services to customers. 3. Borrowed $21,000 cash from creditors. 4. Paid expenses amounting to $54,000. 5. Purchased land for $40,000 cash. Transactions for 2017 Beginning account balances for 2017 are: Cash $137,000 Land 40,000 Notes payable 21,000 Common 80,000 stock Retained 76,000 earnings 1. Acquired an additional $26,000 from the issue of common stock. 2. Received $136,000 for providing services in 2017. 3. Paid $16,000 to reduce notes payable. 4. Paid expenses amounting to $69,000. 5. Paid a $12,000 dividend to the stockholders. 6. Determined that the market value of the land is $50,000.