The Ramires, Incorporated experienced the following events during its first year of operations, Year 1: 1. Acquired $56,000 cash by issuing common stock. 2. Earned $52,000 cash revenue. 3. Paid $27,000 cash for operating expenses. 4. Borrowed $15,000 cash from a bank 5. Paid $40,000 cash to purchase land. 6. Paid a $1,000 cash dividend. The Ramires, Incorporated experienced the following events during its first year of operations, Year 1: 1. Acquired $56,000 cash by issuing common stock. 2. Earned $52,000 cash revenue. 3. Paid $27,000 cash for operating expenses. 4. Borrowed $15,000 cash from a bank 5. Paid $40,000 cash to purchase land. 6. Paid a $1,000 cash dividend