Required Information [The following Information applies to the questions displayed below.] Mark's Consulting experienced the following transactions for 2018, Its first year of operatlons, and 2019. Assume that all transactions involve the receipt or payment of cash. Transactions for 2018 1. Acquired $80,000 by Issulng common stock. 2. Recelved $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 Transactlons for 2019 Beginning account balances for 2019 are: Cash $137,e0e Land 40, eee 21,eee 80,eee 76,ee Notes payable Common stock Retained earnings 1. Acquired an additional $26,000 from the Issue of common stock 2 Recelved $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. Bal Sheet Bal Sheet 2018 2019 Prepare a year-end balance sheet for the year 2018. MARK'S CONSULTING Balance Sheet As of December 31, 2018 Assets Total assets 0 Liabilities Total liabilities 0 Stockholders' Equity Total stockholders' equity 0 Total liabilities and stockholders' equity C C Bal Sheet Bal Sheet 2018 2019 Prepare a year-end balance sheet for the year 2019 MARK'S CONSULTING Balance Sheet As of December 31, 2019 Assets C Total assets Liabilities Total liabilities 0 Stockholders' Equity Total stockholders' equity 0 Total liabilities and stockholders' equity C O