Prepare a statement of changes in stockholders' equity for each year accounting period. Prepare a year-end balance sheet for each year accounting period. MARK'S CONSULTING Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flows from operating activities 1. Acquired an additional $24,000 from the issue of common stock. 2. Received $95,000 for providing services. 3. Paid $15,000 to creditors to reduce loan. 4. Paid expenses amounting to $71,500. 5. Paid a $3,000 dividend to the stockholders. 6. Determined that the market value of the land is $47,000. Required: a. Record the effects of each accounting event under the appropriate headings for each year. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide appropriate titles for these accounts in the last column of the table b-1. Prepare an income statement for each year accounting period. b-2. Prepare a statement of changes in stockhoiders' equity for each year accounting period. b-3. Prepare a year-end balance sheet for each year accounting period. b-4. Prepare a statement of cash flows for each year accounting period: c. Determine the amount of cash that is in the retained earnings account at the end of Year 1 and Year 2. e. Determine the balance in the Retained Earnings account immediately after Event 2 in Year 1 is recorded and after Event 2 in Year 2 is recorded. Complete this question by entering your answers in the tabs below. Record the effects of each accounting event under the approprlate headings for each year. Record the amounts of revenue, expense, and divldends in th Retained Earnings column. Provide appropriate titles for these accounts in the last column of the table. Prepare a statement of cash flows for each year accounting period. Note: Cash outflows should be indicated with a minus sign. \begin{tabular}{|l|l|l|} \hline Assets & & \\ \hline & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline & & \\ \hline Total liabilities & & \\ \hline Stockholders' Equity & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total stockholders' equity & & \\ \hline Total liabilities and stockholders' equity & & \\ \hline \end{tabular} Req B2 Req B4 Record the effects of each accounting event under the appropriate headings for each year. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide appropriate titles for these accounts in the last column of the table. Note: Enter any decreases to account balances with a minus sign. If there is no effect on the Account Titles for Retainad Earnings, inave the celi blank. Not all cells will require input. Prepare an income statement for each year accounting period. Mark's Consulting experienced the following transactions for Yeat 1, its first year of operations, and Year 2 . Assume that all transactions involve the receipt or payment of cash. Transactions for Year 1 1. Acquired $20,000 by issuing common stock. 2. Received $35,000 cash 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. Transactions for Year 2 Beginning account balances for Year 2 are: 1. Acquired an additional $24.000 from the issue of common stock. 2. Recelved $95,000 for providing services 3. Paid $15,000 to creditors to reduce loan 4. Paid expenses amounting to $71,500 5. Paid a $3,000 dividend to the stockinolders. b-2. Prepare a statement of changes in stockholders' equity for each year accounting period. b-3. Prepare a year-end balance sheet for each year accounting period. b-4. Prepare a statement of cash flows for each year accounting period. c. Determine the amount of cash that is in the retained earnings account at the end of Year 1 and Year 2 e. Determine the balance in the Retained Earnings account immediately after Event 2 in Year 1 is recorded and after Eve is recorded. Complete this question by entering your answers in the tabs below. Determine the balance in the Retained Earnings account immediately after Event 2 in Year 1 is recorded and afterifevent 2 in Year 2 is recorded. Net cash flow from financing activities Ending cash balance MARK'S CONSULTING Statement of Cash Flows For the Year Ended December 31, Year 2 \begin{tabular}{|l|l|} \hline & Cash flows from operating activities \\ \hline & \\ \hline Net cash flow from operating activities & \\ \hline Cash flows from investing activities & \\ \hline \end{tabular} b-2. Prepare a statement of changes in stockholders' equity for each year accounting period. b-3. Prepare a year-end balance sheet for each year accounting period. b-4. Prepare a statement of cash flows for each year accounting period. c. Determine the amount of cash that is in the retained earnings account at the end of Year 1 and Year 2 e. Determine the balance in the Retained Earnings account immediately after Event 2 in Year 1 is recorded and after Event 2 in Year 2 is recorded. Complete this question by entering your answers in the tabs below. Determine the amount of cash that is in the retained eamings account at the end of Year 1 and Year 2
