Please answer those questions with detailed explanation please.

I already know the answer, but I need understandable explanation please.

Question One: The records for Todd Inc. showed the following during 2015: 1. Services used this period but not yet paid $350. 2. Cash paid for services to be used next period $150. 3. Cash dividends declared and paid during this period $400. 4. Purchased new equipment on account for 13,000 . 5. Cash collected for services to be provided next period $560. 6. Gain on sale of land for $700. 7. Cash paid for bonds payable retirement $12,000. 8. Stock dividends announced and distributed $10,000. 9. Services provided this period but not yet collected $340. 10. Issue of common stock for cash $20,000 11. Cash paid for expenses incurred this period $45,500. 12. Services used up this period that were prepaid in a previous period $250. 13. Cash collected for services provided this period, $90,000. 14. Increase in Accumulated depreciation by $2,500. 15. Cash paid for services used in the previous period was $470. Required: 1. Calculate Todd Inc.'s net income for 2015. 2. Calculate Todd Inc.'s net cash flow from operating activities for 2015 . 3. Calculate Todd Inc.'s change in assets for 2015. 4. Calculate Todd Inc.'s change in liabilities for 2015 . 5. Calculate Todd Inc.'s change in Equity for 2015