Ramirez Company experienced the following events during Year $1$:

Acquired $$50,000$ cash by issuing common stock

Borrowed $$25,000$ cash from a creditor

Provided services to customers for $$38,000$ cash

Paid $$32,000$ cash for operating expenses

Paid a cash dividend of $$2,500$ to stockholders

Purchased land with cash, $$30,000$

Required:

Show how each of these events affects the accounting equation. Enter NA for items not affected. The first event is done as an example.

Calculate the total amount of assets, liabilities, common stock, and retained earnings at the end of the period.