Question 8 2.5 pts . Braxton Enterprises experienced the following events during 2020, its first year of operations: Received $36,000 cash from the issue of common stock on January 1, 2020. During 2020, Braxton earned $16,500 of revenue on account. Braxton subsequently collected $13,000 cash from accounts receivable. Braxton paid $3,000 cash for advertising expense during 2020. The company also accrued $5,000 for salaries expense during 2020, payable in 2021. . Based on this information, the cash balance at December 31, 2020 was $ 46,000. $36,500 O $ 41,000. $ 62,500 Question 9 2.5 pts Based on the information provided in Question 8, Braxton's retained earnings balance at December 31 2020 is $10,000 $5,000 $13,500 $ 8,500. D Question 10 2.5 pts Based on the information provided in Question 8, net cash flows from operating activities for the year ending December 31, 2020 was $5,000 net inflow $10,000 net inflow $13,000 net inflow $13,500 net inflow D Question 11 2.5 pts Rawlins Company had the following events during 2020, its second year of operations: o Rawlins borrowed $ 80,000 from ABC Bank during 2020. o Rawlins provided services to customers for $46,000 cash during 2020. o Customers paid $12,000 of cash to Rawlins in December 2020 for additional services to be provided by Rawlins in 2021. o Advertising expenses of $9,000 were incurred during 2020 but not paid until 2021. o Salary expense of $6,000 was incurred and paid in 2020. o A dividend of $7,000 was declared and paid to the stockholders of Rawlins in February 2020. Assuming the company's beginning retained earnings balance was $32,000 at January 1, 2020, the balance in the retained earnings account as of December 31, 2020 would be: $63.000 $65,000 $56,000 $72,000