Please see attached document

Answer the questions below. Be sure to put your answers in a 2-3 page paper APA format. 1. Solve the following problems: 1.1. During 2010, Markham Company sold $20,000 of computer chips to a distributor on account. The distributor planned to sell those chips to a German company. The sold chips were shipped to a warehouse owned by Markham and were still there on December 31, 2010. Markham's CFO left two messages for the distributor but received no return calls. The distributor has had no prior dealings with Markham or any other manufacturer of computer chips. None of the past due balance of $20,000 has been paid. How much sales revenue associated with this transaction would be reported on the income statement for the year ending December 31, 2010? Explain your selection. 1.2. Dakota Company, a corporation, began operations on December 1, 2010. During January of 2011, the following transactions occurred: Billed customers $12,000 for services performed during January. Received payment from customers in the amount of $6,000 for services performed and billed in December. Received cash of $7,000 for services performed during January for customers who paid cash immediately. (No bills were mailed.) A. How much total Revenue should Dakota Company report for January, 2011? B. Determine the increase in cash during January of 2011 as a result of these transactions. 2.3. Retained earnings on January 1 and December 31 are $72,000 and $69,000, respectively. During the year, net income is $100,000. How much dividends did the company declare and pay to the shareholders