Questions: 1. Provide the journal entries for Lane and Myer, year 2: 1. Receiving $1,000 in cash in exchange for stock. 2. Paying their workers the $200 owed to them from last year. 3. Receiving a utility bill for $40. The bill is for the current year. 4. Purchasing $200 in equipment using cash. 5. Purchasing some advertising space in a local newspaper for $500. The add will run 4 times, 3 times this year and one time next year. 6. Purchasing $2,000 in inventory using cash. 7. Borrowing $500 from a bank. 8. Selling $1,200 of their inventory for $4,200. Of this amount, $2,200 is in cash and the remainder is on account. 9. Paying for their utility bill, $40 in cash. 10. Paying $10 in interest on their $500 debt from earlier in the year. 11. Recognizing they owe their employees $200 for services provided for the current year. 12. All of the equipment and other fixed assets are depreciated using straight-line basis, assume the equipment purchased during the year has a 3-year useful life with no salvage value. 13. Recognized the interest owed to Al's Bank. 14. A dividend was declared at fiscal year-end for $30. 2. Show the t-accounts for each account used above. 3. Prepare the trial balance, balance sheet, income statement, and statement of cash flows for the company for the year