Marks 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 $20,000 by issuing common stock. 2. Received $35,000 for providing services to customers. 3. Borrowed $25,000 cash from creditors. 4. Paid expenses amounting to $22,000. 5. Purchased land for $30,000 cash.