On January 1, 2018, the following information was drawn from the accounting records of Carter Company: cash of $275; land of $2,025; notes payable of $575, and common stock of $1,150. Required a. Determine the amount of retained earnings as of January 1, 2018. b. After looking at the amount of retained earnings, the chief executive officer (CEO) wants to pay a $375 cash dividend to the stockholders. Can the company pay this dividend? c. As of January 1, 2018, what percentage of the assets were acquired from creditors? d. As of January 1, 2018, what percentage of the assets were acquired from investors? e. As of January 1, 2018, what percentage of the assets were acquired from retained earnings? f. Create an accounting equation using percentages instead of dollar amounts on the right side of the equation. g. During 2018, Carter Company earned cash revenue of $560, paid cash expenses of $330, and paid a cash dividend of $53. (Hint: It is helpful to record these events under an accounting equation before preparing the statements.) g-1. Prepare an income statement dated December 31, 2018. g-2. Prepare a statement of changes in stockholders' equity dated December 31, 2018. 9-3. Prepare a balance sheet dated December 31, 2018. 9-4. Prepare a statement of cash flows dated December 31, 2018. j. What is the balance in the Revenue account on January 1, 2019? Create an accounting equation using percentages instead of dollar amounts on the right side of the equation. (Round percentage answer to whole percent.) Assets + CARTER COMPANY Accounting Equation as of January 1, 2018 Liabilities Stockholders' Equity Land Notes Payable Common Retained Stock Earnings % + % + % Cash + During 2018, Carter Company earned cash revenue of $560, paid cash expenses of $330, and paid a cash dividend of $53. (Hint: It is helpful to record these events under an accounting equation before preparing the statements.) (Enter any decreases to account balances with a minus sign. Select "NA" if there is no effect on the "Account Titles for Retained Earnings".) Show less Assets CARTER COMPANY Accounting Equation as of December 31, 2018 Liabilities + Stockholders' Equity Notes Land Retained Common Payable Stock Earnings = Account Titles for Retained Earnings Cash = + + + + + + + + + + + + + + + 0 + 0 0 + 0 + 0