Required Enter the missing values in the following financial statements. Assume the company started operations January 1, Year 1, and all transactions involve cash. (Enter amounts to be deducted and cash outflows with a minus sign.) Revenue Expense Net income For the Years Year 1 Year 2 Year 3 Income Statements $ 700 $ 1,300 $ 2,000 (700) (1,300) $ 200 $ 700 Statement of Changes in Stockholders' Equity Beginning common stock Plus: Common stock issued Ending common stock Beginning retained earnings Plus: Net income Less: Dividends Ending retained earnings Total stockholders' equity Balance Sheets Assets Cash Land Total assets Liabilities Stockholders' equity Common stock Retained earnings Total stockholders' equity $ 0 $ 6,000 5,000 1,000 2,000 5,000 6,000 0 100 200 700 (500) (300) 100 600 $ 6,200 $ 8.600 Total liabilities and stockholders' equity $ Statements of Cash Flows Cash flows from operating activities: Cash receipts from customers Cash payments for expenses Net cash flows from operating activities Cash flows from investing activities: Cash payments for land Cash flows from financing activities: Cash receipts from loan Cash payments to reduce debt Cash receipts from stock issue Cash payments for dividends Net cash flows from financing activities Net change in cash Plus: Beginning cash balance Ending cash balance 8,000 S 11,200 $ 10,600 $ 5,000 $ 2,000 8,000 200 600 6,200 8,600 8,100 $ 11,200 $ 10,600 $ 1,300 (700) 200 600 700 0 (8,000) 0 3,000 3,000 0 0 (1,000) 5,000 1,000 (100) (500) 7,900 2,500 (1,300) 8,100 (4,900) (600) 8,100 3,200 $ 8,100 $ 3,200 $ 2,600