The Year 1 ending balances for the Better Corp. became the Year 2 beginning balances. These balances are shown in the following accounting equation. BETTER CORP. Accounting Equation Year 2 Event No. Assets Beg. Bal. Cash 8,000 Land 20,000 Liabilities Notes Payable 12,000 Common Stock Stockholders' Equity Retained Earnings Accounting Titles for Retained Earnings 7,000 9,000 Better Corp. completed the following transactions during Year 2: 1. Purchased land for $5,000 cash. 2. Acquired $25,000 cash from the issue of common stock. 3. Received $75,000 cash for providing services to customers. 4. Paid cash operating expenses of $42,000. 5. Borrowed $10,000 cash from the bank. 6. Paid a $5,000 cash dividend to the stockholders. 7. Determined that the market value of the land on December 31, Year 2, is $35,000. Required a. Record the transactions in the appropriate accounts under an accounting equation. Record the amounts of revenue, expense, and dividends in the Retained Earnings column. Provide the appropriate titles for these accounts in the last column of the table. b-1. As of December 31, Year 2, determine the total amount of assets, liabilities, and stockholders' equity b-2. Prepare balance sheets for Year 1 and Year 2. The Year 1 ending balances include $8,000 cash, $20,000 land, $12,000 notes payable, $7,000 common stock, and $9,000 retained earnings. c. How much cash is in the notes payable account? d. How much cash is in the common stock account? e. How much cash is in the retained earnings account? What is the balance of the cash account at the end of Year 2? f. What is the amount of the land shown on the December 31, Year 2, balance sheet?