Required Enter the missing values in the following financial statements. Assume the company started operations January 1, Year 1, and all transactions involve cash. For the Years Year 2 Year 3 Year 1 Income Statements 2,000 (1,300) 700 6,000 2,000 Revenue $ 700 $ 1,300 $ Expense (700) Net income $ 200 $ Statement of Changes in Stockholders' Equity Beginning common stock $ 0 $ Plus: Common stock issued 5,000 1,000 Ending common stock 5,000 6,000 Beginning retained earnings 0 100 Plus: Net income Less: Dividends (500) Ending retained earnings 100 Total stockholders' equity $ 6,200 $ Balance Sheets Assets 200 700 (300) 600 8,600 Cash Land 0 8,000 $ 11,200 $ 10,600 Total assets Liabilities Stockholders' equity $ 5,000 $ 2,000 Common stock 8,000 Liabilities $ 5,000 $ 2,000 8,000 Stockholders' equity Common stock Retained earnings Total stockholders' equity 200 600 6,200 8,600 10,600 $ 11,200 $ $ 1,300 (700) 600 700 (8,000) 0 Total liabilities and stockholders' equity $ 8,100 Statements of Cash Flows Cash flows from operating activities: Cash receipts from customers Cash payments for expenses Net cash flows from operating activities 200 Cash flows from investing activities: Cash payments for land 0 Cash flows from financing activities: Cash receipts from loan 3,000 Cash payments to reduce debt 0 Cash receipts from stock issue 5,000 Cash payments for dividends (100) Net cash flows from financing activities 7,900 Net change in cash 8,100 Plus: Beginning cash balance 0 Ending cash balance $ 8,100 3,000 0 (1,000) 1,000 (500) 2,500 (4,900) 8,100 (1,300) (600) 3,200 $ 3,200 $ 2,600