Required Information [The following Information applies to the questions displayed below.) Mark's Consulting experienced the following transactions for 2018, Its first year of operations, and 2019. Assume that all transactions involve the receipt or payment of cash. Transactions for 2018 1. Acquired $80,000 by Issuing common stock. 2. Received $130,000 cash for providing services to customers. 3. Borrowed $21,000 cash from creditors. 4. Pald expenses amounting to $54,000. 5. Purchased land for $40,000 cash. Transactions for 2019 Beginning account balances for 2019 are: Cash Land Notes payable Common stock Retained earnings $137,899 40,000 21, eee 80,000 76, eee 1. Acquired an additional $26.000 from the issue of common stock. 2. Received $136,000 for providing services. 3. Pald $16,000 to creditors to reduce loan. 4. Pald expenses amounting to $69.000. 5. Pald a $12,000 dividend to the stockholders. 6. Determined that the market value of the land is $50,000. c. Determine the amount of cash that is in the retained earnings account at the end of 2018 and 2019. e. Determine the balance in the Retained Earnings account Immediately after Event 2 in 2018 and in 2019 are recorded. 2018 2019 c. Retained earnings e. Retained earnings Required Information [The following Information applies to the questions displayed below.) Mark's Consulting experienced the following transactions for 2018, Its first year of operations, and 2019. Assume that all transactions involve the receipt or payment of cash. Transactions for 2018 1. Acquired $80,000 by Issuing common stock. 2. Received $130,000 cash for providing services to customers. 3. Borrowed $21,000 cash from creditors. 4. Pald expenses amounting to $54,000. 5. Purchased land for $40,000 cash. Transactions for 2019 Beginning account balances for 2019 are: Cash Land Notes payable Common stock Retained earnings $137,899 40,000 21, eee 80,000 76, eee 1. Acquired an additional $26.000 from the issue of common stock. 2. Received $136,000 for providing services. 3. Pald $16,000 to creditors to reduce loan. 4. Pald expenses amounting to $69.000. 5. Pald a $12,000 dividend to the stockholders. 6. Determined that the market value of the land is $50,000. c. Determine the amount of cash that is in the retained earnings account at the end of 2018 and 2019. e. Determine the balance in the Retained Earnings account Immediately after Event 2 in 2018 and in 2019 are recorded. 2018 2019 c. Retained earnings e. Retained earnings